Yes, ad blockers work. But they are susceptible to the tragedy of the commons: it's always advantageous to install an ad blocker. Then, as they proliferate, companies must insert more and more intrusive ads. This encourages more people to get ad blockers.
Allowing a tiered economy for content will enable those who wish to pay to do so, and those who don't to see ads. The ads can become less intrusive because the companies are no longer playing a cat-and-mouse game with their inventory. That should decrease the incentive to use an ad blocker, allowing that revenue stream to stabilize.
Subscribers to the NYT: are they the customer or the inventory (or product)?
Subscribers to Netflix: are they the customer or the inventory (or product)?
I really don't see why companies wouldn't treat them as both. So many businesses are operating on a subscription model, and still treat their "customers" as databanks ripe for mining and selling to their "real customers": advertisers and other purchasers of user data.
The 21st Century has really become the century of spyware, and I don't see paying for content as a reliable way for consumers to avoid being a target.
Doesn't Firefox do all of that already for free? It's FOSS and has a wide range of privacy features baked in including pixel blocking. Adding on ghostery and ublock covers the rest. Seems like the only difference is configuring options on installation.
A direct-pay model mean that content creators have to adhere to what their audience approves of.
I know which one I prefer.