The policy you're quoting is between Microsoft and a business wishing to advertise on it's platform. It is understood that business do read the TOS and contracts of the platforms they sign up with. Users do not. It is still a legal grey area, but more than likely a "no class action lawsuit" clause would be as useful as a paper shield in court.
E.g. like this one https://about.ads.microsoft.com/en-us/resources/policies/cla...