It might, but my expriences were mixed. I enabled in in production on a small site that I reserve for this kind of tinkering.
- I was never able to see an ad myself. Impossible to verify what the algo is actually doing and how is the UX.
- AdSense reports however did show auto ads impressions. According to the report the rate of visibility was improved in comparison to my manual setup (top banner for index, bottom for topics)
- The generated revenue sunk like 90%.
Removed it, but still very much interested in learning more. This would be so much more elegant way of dealing with the ads.