It’s mildly effective in the sense that it will decimate click-through rates, but if enough people did it, they would start filtering by IP, and you’d need to change how many ads it clicks on so it looks more human.

It also still gives advertisers your data, since it still has to load the ads on your system to click them, so it’s not as privacy-preserving as a full-on adblocker that outright blocks every advertisement and tracker related network request in the first place.