very odd google ad

Yeah, it's a crappy ad, but who are their target audience? That's right, humans. Contextually, that fits most of the Gooruze right?

Maybe they know that all SEM geeks are pansies.

More likely they know that most of us spend all day at a computer and really need to get out and exercise a bit..

Maybe they think tech geeks want to have buff bods

Funny! Probably a combination of the advertiser not knowing what he was doing, and Google's team not looking into it enough before passing it.

No the first time recently I have seen the boundaries pushed on what is "relevant contextual advertising". I think that simpletiger has nailed it - the advertiser doesn't know what they are doing and the quality control team let it slide by.