Looks 'dynamic' enough to me. Unless, of course, you don't consider banners content. The banner itself may be served up as CGI by an external system, but advertisers like to target ads. In an object oriented system, or any system that's capturing metadata about a page or element, you can serve ads based off of that metadata, if whomever is supplying the ads allow you to communicate that. And that's still assuming that the ads are coming from outside.
Advertisements can share just as much core metadata as any element, page, or collection of pages.
This meta data can be matched up against any displayed page, because the page either is an element or is composed of elements that contain the same core meta data. Match up the keywords and any other relevant information, and you've immediately got targeted ads. And now, for an article about content management systems, you're more likely to see ads for things like Spectra, or consultants who specialize in CM systems, and less likely to see ads about discount cruises for the entire family.