Advertising is shitty but how would you realistically even make it illegal without violating free speech.
Also, advertising does have a good-faith purpose in functioning markets.
Failures in regulation IMO are mostly at entirely different levels.
E.g. monetization of public utilities and public space. Noise, brightness, and of course deceptive tactics could all be better regulated as well.
But advertising, including its diffusion into general pop culture and entertainment, is older than the printing press, and I think for a broad sense of "advertising", even a lot older.