Why do you think unregulated capitalism will solve the advertising problem? Other than what I am guessing your point is to relying on a large portion to punish bad advertisers and that eventually those companies will do boring adverts.
Clearly the average Joe/Jane is persuadable, and does not have an iron will to never be manipulated.
Clearly unrestrained advertisement is how we got here in the first place.
Even if you personally choose not to buy overly advertised goods, the overwhelming majority of people will not make the same choice. Advertising works extremely well, and it will always work no matter what you or I do.
So we will still have the problem of excessive advertising, which negatively impacts even people who try to ignore that advertising.