Starting in March 2023, targeting options will start moving under the Content page, which will become a single place for setting up targeting.
The targeting behavior will also change. In the case of a combination of topics, placements or keywords in one report, it will no longer be valid that both targeting must be valid at the same time. So we are no longer talking about penetration, but unification. If you use a theme and a specific location, the ad will be able to appear on all websites that meet the theme, as well as on selected locations (which do not have to meet the theme). Image shared by mahesh_ppc on Reddit.
The penetration remains with the combination with devices and geographic location.
Google stated that this decision was made based on the behavior of advertisers where advanced targeting was not widely used or was the result of incorrect settings and ads were not served , so he decided to simplify targeting.