The distinction is consent, and it's a pretty big one, because it's the difference between Microsoft sharing it among their services (they don't need to sell it to themselves) for the reasons outlined in the EULAs, and companies that aren't Microsoft using it for whatever reason they want. You can be assured they're following the EULAs because the consequences of not doing so would make them vulnerable to millions if not billions in fines if only one sufficiently motivated individual, like an ex-employee, leaked the evidence.
More targeted (i.e. relevant) ads are really not the evil many make them out to be. Ads in a paid product are also not quite evil, but they are incredibly idiotic and a step backwards. Either way, makes no difference to me because at this rate it seems my next OS will be a Windows-like Linux distro anyway.