That is only true because targeted ads are possible.
In a world where there is no targeted ads, companies still need to get clients and compete. The marketing budgets of companies would not miraculously go down if targeted ads ceased to exist, the money would just go to other means, and non targeted ads are a very good candidate (also they can be extremely hard to block as they can be served first party if needed)
In a world where there is no targeted ads, companies still need to get clients and compete. The marketing budgets of companies would not miraculously go down if targeted ads ceased to exist, the money would just go to other means, and non targeted ads are a very good candidate (also they can be extremely hard to block as they can be served first party if needed)