I'll save you a click:

Hey there redditors,

As Reddit has grown, so has the complexity of the preferences we provide to meet the varied needs of our users. Our current User Settings, which allow you to change your preferences at any time, have been long overdue for some TLC. This week, we’re cleaning up and simplifying some user preferences to help users better understand how their data is being used and to be able to opt-out of settings more easily.

What’s changing:

Simplifying Personalization Preferences: Our personalization preferences have been pretty confusing. There are six personalization options, three of which deal with personalization of ads, two of which confusingly both deal with personalization of ads based on partner data. These two settings (“Personalize ads based on information from our partners” and “Personalize ads based on your activity with our partners”) will be combined into one setting: “Personalize ads based on your activity and information from our partners.” We will no longer support the option to opt out of personalization of ads based on your Reddit activity.

Removing Outbound Click Preference: While there are safety and operational purposes for tracking outbound clicks, we leverage only aggregated data and have never personalized Reddit content based on this data, so we’re removing this setting to reduce confusion.

Removing Logged Out Personalization Settings: All User Settings are tied to a user account. Previously, we had ads personalization settings available for logged out users. We’ll be removing these settings to reduce confusion.

Reddit’s commitment to user privacy isn’t changing. For users who want to have a non-personalized version of Reddit, they can always continue to use Reddit without logging in. We also launched Anonymous Browsing Mode on our iOS and Android app last year to support private browsing from our native app experience. You can find more info on Reddit's Personalization Preferences here.