Yuck. This isn't really my area, so I don't personally have an update regarding the ad project (hopefully one is forthcoming), but I wanted to at least pass on what I've seen elsewhere to answer your question:
Is that the kind of ad we want on SE sites?
Apart from obviously reporting this stuff as you did here, Sean Bave provided an update I found useful I thought worth quoting here:
Thank you for flagging this.
My name is Sean Bave, I am the General Manager for the Advertising business.
These ads are absolutely against our policies, we will take this down immediately and remove the advertiser completely. We have actively excluded dozens of categories of ads, this is a case of a bad actor trying to get around the restrictions we have put in place. More importantly, though, it is not our intention to leave it to our users to police the ads, that is not fair to our community. We appreciate your help in flagging this, but you should not have had to in the first place. We are actively working very hard to put better monitoring, flagging, and other controls in place.
Our goal is to give the community more direct control over the ad experience while using better automation and working with our advertising partners to completely restrict bad ads. In the coming weeks, I will be updating the community in much greater detail about our approach to advertising, the controls that are available to individuals, and the additional protections that we are putting in place. I understand that this is all talk until we deliver, and intend to do so as soon as I can.
Original Post: Kind, courteous, inclusive, intolerant of bigotry, racism, etc. Fine, I agree. Now what about my feelings as a mod?
Is that the kind of ad we want on SE sites?
If I upvote, does that mean "yes"? :)