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> but it is a genuine source for a company to generate revenue.

That's a common cultural belief that I do not subscribe to, seems to come with our currently trendy variants of capitalism/liberalism. I personally belief it is more akin to a crime that is currently not punished.

> probably could not exist as they do.

More industries have been outlawed in history.

> I believe without advertising that the internet would not have been what it is today,

I can take that as fact. But I do not think that "without ads" (on the internet or not) is "economically worse". I think without ads we would produce better quality; it's complete guessing, but that's just my expectation.