Limiting certain types of advertising or changing tax codes to not allow dedicating expensive could shape it in a way that meshes with society.
Trying to rein in the abuses you saw in the adtech world starts with Google, Facebook, Amazon, Microsoft being dissolved.
That implies that people want ads and they're going to be consuming underground ads from their ad dealers. Which actually already impinges on advertising because advertising doesn't want to be secret, advertising wants to be as visible or popular as possible. Advertising is inherently easier to regulate because of this.
Microsoft’s largest segment is cloud, but it doesn’t quite provide the bulk. Their ads business is small compared to the rest.
Certainly killing advertising would hurt them, but I’m not seeing a mortal wound here, so I thought I was missing something when you lumped them in.