God, it's not hard to read an article instead of speculate in the comments.
"The new built in blocker will use Brave’s adblock library and run in Waterfox’s main browser process rather than as an extension. Kontos says this should make adblocking faster, more tightly integrated, and less dependent on extension APIs or constant upstream updates."
He also said Brave’s library was chosen partly because its MPL 2.0 license is a better fit for Waterfox, while deeper integration with a blocker like uBlock Origin would be more complicated because of its GPLv3 license.
Waterfox will still make one exception by default by allowing text ads on its default search partner page, currently Startpage, as a way to support the browser financially. The team clarified that this is Waterfox’s own revenue decision and not something inherited from Brave’s adblocking technology. Users who want stricter blocking will be able to disable all ads with a single setting, while people who already use third party blockers can keep using them as usual.
This, to me, is fine, because I change the default regardless. There's nothing stopping anyone else from doing the same. Sure, this could potentially open the door for additional "greedy" decisions down the road, but let's not jump to conclusions.