This isn't true, targeted advertising only gets publishers about 4% more revenue, despite adtech's claims it's over 50%. And when adtech is banned, revenues will stabilize around remaining activity.
You deliberately choose to ignore all of the studies that disagree with you except the one that you agree with that has very obvious flaws. Here's a summary of the literature[1]. Personalized ads have become popular because they perform better for the buyer, and that makes buyers willing to pay more to show them to their customers. Buyer goals align with conversions. The history of advertising online started with contextual, there is zero evidence to support the claim that revenue will only drop 4% when any company submitting bids for contextual vs personalized ads can show you that the CPMs they are willing to pay can easily be 2-3x if not even higher for high worth users.
[1]: https://docs.google.com/presentation/d/1juu6UBguR7ru1Rhfyor9...