From the article:

What sets Insanet’s Sherlock apart from Pegasus is its exploitation of ad networks rather than vulnerabilities in phones. A Sherlock user creates an ad campaign that narrowly focuses on the target’s demographic and location, and places a spyware-laden ad with an ad exchange. Once the ad is served to a web page that the target views, the spyware is secretly installed on the target’s phone or computer.

If they're using ads on a web page to install spyware, then they're most definitely exploiting vulnerabilities—unless they're showing the user a 'do you want to install XYZ?', in which case this isn't newsworthy at all. Ads aren't some magical thing that can just go around installing shit silently, so I don't know wtf the article is going on about, but it doesn't make sense.

Edit: The Register seems to have a more sensible take on it: https://www.theregister.com/2023/09/16/insanet_spyware/