Assume you're right and advertising companies outsourced responsibility to GARM.
Then since GARM was discontinued in August shouldn't all of the advertisers be suddenly flocking back to X. Because ad spend for X continues to be anaemic.
And I assure that advertisers very much do care if their ads appears next to neo-nazi, racist and misogynistic content.
Yes they do.
X has shown the more trusted and safe your platform is the better it is for advertisers and your bottom line.