In and of itself? No, certainly not. Historically, however, advertisements have been a few things that matter. They've been passive--the level of attention a print advertisement is able to demand is constrained. Or they've been supportive--your "show X is brought to you by Y!" advertisements, which historically tended to have some kind of anchoring into the community surrounding the content or service being consumed.

They're not anymore. To the first, advertisements are designed, by the platform, to for maximal attractiveness (newspapers of prior eras spent much less effort blending content and advertisement and it wasn't until about the year 2000 where loudness-compression made television advertisements blow out your speakers). To the second, these advertisements tend strongly--not always, don't but-for me, but tend strongly--to be disassociated from the community. Having some startup or multinational demand your attention for this-or-that doesn't tie back into your community, there isn't even a local aspect to the business to fall back on. It's just...voices, yelling at you for your attention and your money. That's just not good for us.

I both pay for content (I was happy to sign up for YouTube Red, for example) and aggressively use ad-blocking and the difference on my mental well-being when I don't have access to my accounts, or when somebody insists on watching television and having it scream at me about how I must buy this thing, is noticeable.

This shit is bad for us. We as technologists should not perpetuate it.