I think ads provide a business model without which many online services won't survive.
And indeed there's the privacy angle, however... (1) laws like the GDPR are far more effective at fighting that and (2) ads don't have to actually do personalisation to work and indeed, now that GDPR is in, in the EU many publishers are turning to less intrusive advertising.
I also think many users block ads for reasons unrelated to privacy.
As proof, whenever a new restriction happens for a free service without ads, you only need to witness the outrage, like for example when Dropbox limited its free service to sync with only 3 devices, or when OneDrive lowered the storage provided on its free tier, etc. Also witness, for all the bitching and moaning about privacy issues, how many people here are still using a @gmail.com address.
Truth of the matter is many people want to eat their cake and have it too. Most people just wants free stuff without any inconvenience. and it's hard to take them seriously.
Don't get me wrong, I'm using an ad-blocker myself. However I'm also paying for the content I'm consuming whenever I can, if it has any value to me. I happily pay for YouTube Premium for example, also for Fastmail, Dropbox, Newsblur and others.
So how do I feel? I'm feeling fine to be honest.