There's a middle ground, called "regulation".
For many decades now there have been rules regulating advertisements ("commercial speech"), sources of addictive behavior (gambling, alcohol, cigarettes), and monopolies. It seems reasonable to propose that these rules should apply to Facebook and other "new media", to the extent that they are ad-supported, may promote addictive behavior, and may be monopolies.
Applying these regulations to the internet does not mean shutting down ad-supported websites, any more than they prevented ad-supported newspapers and TV stations from thriving back in the day.