I will explain the principle to you so that you understand how the current s-bert and now muvera algorithm works with your page and links.
Your headings title, description, h1-h6 are the primary data on your page and have the highest weight when compiling the ranking queue.
But, unlike the old text algorithms, the current algorithms understand the context of the task and the characteristics of the user's request. In different situations, for different purposes of the user's request, the algorithm will take different data from your page that is needed specifically to answer in each specific case, but they coincide with your idea of the page as a whole.
Accordingly, if you put a link from a page from the text, or a link is placed to you from some site, then the algorithms analyze the purpose of this link, and not the words themselves and the queries in it.
For example:
You have a site about excursions to Thailand, and on the page there is text that describes a tourist excursion to Thailand.
Your titles and descriptions put the general query "Trips to Thailand" first and have the highest ranking weight.
But one John Smith from Kentucky writes a query to Google from his mobile phone: How much does it cost to rent a house in the swamps of Thailand.
And before that, he searched for sites with excursions and hotels, and Google knows that he most likely wants to go on vacation to Thailand, and on your page, in addition to the excursion (which coincides with this person's goal), there is text that all customers will be given a choice of houses in the swamps at such-and-such a price for such-and-such a house.
As a result, your main request has the highest weight, and it matches the purpose of the request about houses, since the algorithm knows that the purpose of the request is an excursion and a vacation, and on your page there is specifically about houses, which were directly requested, and then the algorithm will create a new title and description text for your page, which should appeal to this particular person, these new texts should interest him, if Google writes simply about excursions to Thailand, then the person will not go to your site, he wants to know about houses, and you have this, so Google will show him what he wants, but using the weight of your main request, and you will stand high in the search results.
The same principle is used to account for links.
From this page of yours, you put a link "Swamps of Thailand" to a site about the nature of Thailand, the purpose of your page is Excursions, it says about swamps and nature, the goal is quite consistent with the site to which you link, it makes sense for you to link to such a site and page, the link will be counted and taken into account.
But you decided to put a link "Buy medicine in Thailand" from the same pages, but the page has the purpose of an excursion and nature, this page is in no way connected with medicines and their purchases, although the site itself as a whole can have pages and the purpose of telling about purchases. Your link will not be taken into account, but you will not receive a fine, since the site implies such a purpose, but not on this page.
And the third option - you put a link "Sports betting in the USA". Does your site write about this? Thailand is the USA? What do you think will happen to your page and the site as a whole for this?
The same principle applies when someone puts a link to your site, for accounting and weight growth, the goals of the sites in general and the contexts of the pages in particular must match. It's good that Google tries to identify spam and cuts off such links, but you can still lower a competitor with insane links even taking into account that Google has learned to identify them well, but there are always loopholes and exceptions that can break through competitors' sites
That's how it all happens now. Therefore, it is now useless to pump up any one request with anchor links, especially from inappropriate sources, since they will not have any purpose and will not be taken into account when calculating the situations of other requests.
