Advertisements have exceeded the point of being a nuisance for many years. But adblocking is a fight that solves symptoms and will affect more than just advertising in a negative way.
The best parallel I can draw is to the Napster era when pirating music cut off the head of the chicken in the industry. Hollywood and like were refusing to adjust to digital downloads and streaming. Part of this was due to the fact that it would drive down profits. But people started pirating the content and getting it for free so they lost money anyways. It's not impossible, but it has become more difficult for artists to break into the industry (along with competition) because of the margin of profitability.
In that same vein - publishers and advertisers have resisted the market and have bled their visitors for every penny. Finally the users stood up and said enough is enough - and now we have adblocking. The problem I have with adblocking is that it doesn't resolve the problem, just the symptoms. Adblocking pushes out smalltime publishers whose only revenue are these obtrusive ads. The "big guys" can stay alive as the reduction will be drops in the water for them. The way I see adblocking is that it will only drive the publishing industry further towards monopolies who will push the little guys out. And once you are getting all your content from 1-3 sources and the little guys are gone - there's nothing to stop them from becoming the same monoliths that exist as Internet Service Providers. They control the means and have no urge to change.
I stand on the fence, wishing there was a better solution to this problem but some times the only way to bring change is to burn it down first and start from scratch.