So, does the content blocker tweaks the site loading by sending a feedback as if the ad was loaded so that rest of the page loads correctly?
No, that's impossible. The feedback I am talking about is from blocker users.
From my earlier reading: some sites fail to load or load incorrectly because the way ads are coded - unless the ad/tracking script is loaded, it doesn't proceed further giving a blank page.
True. Just like the example from that bug I linked above.
Lots of websites use visualwebsiteoptimizer.com which is often blocked as a tracker. But their javascript does not handle the situation when it's blocked by Safari content blocker and because of this the page becomes empty in Safari.