As with any devil’s bargain, one must evaluate whether it’s really worth it or not.
If all advertising on the Web disappeared tomorrow, would some valuable content be lost because the people putting it up are not willing to fund their site out of pocket? Certainly yes.
Would even more worthless garbage be lost? I think that’s also a “yes”.
I’m willing to accept a smaller Web with some losses in order to get rid of obnoxious advertising. So are many others. You appear to disagree, as is your right. In any case, it would take a major legislative movement and/or cultural change to cram the genie back into the bottle at this point, so the argument is most likely moot.
Then it won’t exactly be the first, “Teens are [doing thing]! It’s horrible and we have to stop them!” overblown moral panic in the past century. (It’ll suck for some teens who don’t fit in with the people they’re required to associate with in meatspace, but that’s another thing that’s always been true.)