Let me offer a different perspective: I'm as little pro advertising as I am pro drugs, but I see both of them in a similar way: As having some negative consequences to society, but also being backed by a real world demand that doesn't stop at the borders of legality.
And the same way alcohol prohibition counter-intuitively had an even more negative effect on society, the same thing would happen with advertising.
I would rather tolerate transparent advertising with a clear, public framework and enforceable rules than I would want to tolerate a world where advertising demand creeps into every other form of communication.
We already live in a world where it's hard to trust any person or organization. I'm personally against drastically making that problem worse.