honestly, yes. adverts pay for most if not all of the free content on the internet. if adverts were more targeted they would become more profitable and therefore pay for better content.
very well target ads will suggest things to you that you would genuinely like or would be useful to you but have not yet heard about.
If ads were more targeted, that doesn't necessarily increase neither the ad spend of companies, and it most definitely doesn't increase the amount of money that consumers can spend on the things that are being advertised.
Most of the time, advertising is a zero-sum game. If you take ad targeting away from everyone, everyone will just do untargeted ads (i.e. ads that are only related to the context they appear in, not related to the person seeing them), and there will be no comparative disadvantage for any particular advertiser.