As an alternative to a different launcher you can block the domain responsible for the ads [0] in your DNS resolver. The Launcher will then fallback to less intrusive "ads" for the standard apps: YouTube, Google Play, Google Movies, etc.
I've added it to the adaway.org list [1], so it might find its way into blocklists you are already using soon.
[0] androidtvwatsonfe-pa.googleapis.com