On the one hand, yes. But also, it's mostly capitalism.
I don't think there's anything inherently wrong with "I'm starting a frisbee club for fun. We're going to meet saturdays in the park. I'm going to put up some flyers and tell my friends about it".
But at some point that can mutate into "i put a 30 second unskippable ad for FrisbeeFranchise on youtube, and a giant billboard over the subway stop that implies if you don't play frisbee you'll never be happy". That's bad.
I think targeted ads should be illegal as a first step. I don't think anyone except the worst sort of advertisers would go to bat for those. Old fashioned static ads where they put an ad for bike stuff by the bike lane in town is annoying, but somehow we've invented things so much worse than that.