If that was the case, they wouldn't have come out with AdLinks which are made to look like navigation menus (and believe, tons of very high-profile sites are using them in such a way that you would almost think they were navigation links).
Here's a relevant article about blending from Google:
There's several pages in AS support where Google makes it clear that they want you to make your ads appear as a part of your site.
Now if you were to deliberately place elements around the ads giving the impression that the ads are navigation links or lead to other parts of your site, i.e. "click here for more information" then you would be in trouble, as you would be drawing undue attention them.