When companies start to focus too much on growth usually they start to lose sight of their values and greed begins to take over. That said I just checked their ad policy and while they do physical ads, it’s still a pretty reasonable policy.

They still won’t be showing up on random YouTubers videos like Nord

I checked their policy, the physical ads are new

One of the things I liked about Mullvad was that they didn’t advertise. Has this changed recently or did they always do outdoor ads?