Advertisements in magazines are often somewhat interesting, well-made to be entertaining, or even useful. I used to read ads in magazines and I still sometimes do. It doesn't give me a bad feeling, at worst/best I'll just emit an indifferent "huh", and proceed to the next page.
And I've never, ever seen a single internet advertisement that wouldn't make me irritated and start gradually boiling my blood. Early Google-style ad boxes were closest to bearable so far but I still never read them nor showed any slightest interest in them. They were just kind enough to not irritate that much but merely be mentally blocked right off the bat.
I can't stand a web page with ads yet I would find a magazine boring without them. I don't think it's the ads: I think it's the presentation and the media that differs between paper and web. My eyes can wander to an ad and then back to text quite easily on paper, but my browser can't fit several columns of the article and a full-page ad on the same screen. This either-or proposition interrupts my reading and causes agitation. On paper I'm in control, on web I'm not.