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Ads are billed by click, you’re correct.
Any place we could find more details on this? Wonder if setting up an ad clicker would be a decent way to drain their funds (if many people do it of course).
Theoretically it is. There’s actually an add on for Firefox now called adnauseum that auto clicks every ad it blocks (it’s ublock origin under the hood). You don’t see it happen, but in theory it costs the advertisers money and also scrambles your advertising profile since it clicks everything.
If you want to learn more just look up ad cost on any ad network as if you were going to buy an ad. They break it down in detail.