It does mean you get to see reduced ads. As the link says, the leaderboard ads don't show, though you will get sidebar ads as well as ads for jobs from our job board.
However, the ads in the leaderboard are also targeted to specific countries, or tech combinations. If you're in an area where people haven't targeted anything we won't show you anything.
I'm in the same boat as well, being based in eastern Europe. However, whenever I log in to Stack Overflow from western Europe or America, I see the standard number of ads.