"all the good things advertising does" is doing a lot of the leg work without much being specified.
I put up polite, attractive, informative ads in forums that I think will have people who might come to my shows. Not everyone will; the large majority won't. But some of these are web sites that talk about theater, where my ad spend pays for the site itself to exist.
I recognize that the ads we most notice are nothing like that. But the idea that all ads are automatically a bad thing misses out on the fact that the original purpose of ads, as cited in the article, does still exist. If you waved a magic wand and got rid of ads my theater probably wouldn't exist. No big loss, I suppose, but the world is very slightly poorer for it.
It doesn't mean there are no problems with ads today.