It’s a bit of both, tbh. I use both it and Apple News for news curation. Flipboard is by far more ad-centric (and AN has more content) but Flipboard is pretty customizable for identifying topics so I keep it around. Flipping through it, every second or third page is an ad, but most of what they link to is available (at least for me) and they’re not overly swamped with clickbait (again, at least in my feed).

I probably use it about 1/3 as much as AN.