Completely agree. Spent the last few years running seven-figure ad budgets, and 90% of the time when a campaign "fails," it's because nobody pinned down the ICP or the offer. I've literally seen clients change their target audience every Monday. Try optimising a funnel when the product benefit shifts weekly - impossible.
That said, bad creative is still bad creative. Seen plenty of ads that were perfectly targeted but used stock photos and copy that read like a terms of service. The difference is, if the upstream decisions are solid, you can fix the ads in a day. If the strategy's a mess, you're polishing a turd. Decision problems first, marketing problems second. Every time.