One place this shows up is a frequently-expressed sentiment that the internet is a less magical, less weird, and more corporate place than it was 10-20 years ago. Part of this may be because SEO has diluted the voices of individual creators. But part of it is also because way more average, everyday, tech-unsavvy people are on the internet now.
Another example is the periodic highlighting of somewhat garish HTML-based websites. I like these too! My own personal website falls in this category! But as far as I know, the generic internet user likes the generic slick-graphics-and-whitespace style, and so go the websites that want to attract them.
More relevant to the topic at hand, many comments in this thread argue that targeted ads are unnecessary for a functional internet, since the internet of 20 years ago seemed to work just fine without targeted ads. But, again, it's less clear to me that general internet users -- that is, mostly people who never experienced the internet of 20 years ago -- have the same preference.
It's funny, because I'm to a large extent on HN's side on this one. But my enthusiasm is tempered by my sneaking suspicion that the other side is a lot bigger, and my side is actually powered by more elitism and nostalgia than I thought.
None of this would be possible without ads. No one is going to pay for all that.
All of the listed services will still be there, they just won't be making excess profits for their owners.
Which is exactly what FLoC is a step towards fixing. It may not be as perfect as not having any targeted ads at all, but it's a much better than the current status quo
As for targeted ads, I would argue that most advertising would be non-viable without it. Yes, something like Coca-Cola won't care, but your average small business owner who needs to target a specific niche will basically be unable to advertise it.
Imagine I build an app specifically for people into biking, or into animal crossing, or into some other small niche that's less than 0.1% of the population. How do you propose I grow my audience without any sort of targeting at all?