This would also include down propaganda on social media.
We could then work backwards to define exceptions such as politicians speaking in moderated debates, signage in shops, etc...
Defining this correctly will be difficult, but that's the case with any law. GDPR was watered down, and I'm still glad it's there.
The cash flow is: you -> merchant -> manufacturer -> advertising department -> google -> influencer
So if ads go away, theres two scenarios:
A: the influencer was worth your money and you pay him directly
B: he's not worth your money
I know, I'm making quite a few assumptions about how the market will correct, so I will also point that many Twitch-Streamer and YouTube channels already are financed through crowdfunding. It's not unrealistic that people will pay for good content.