This also describes adsense, or Amazon or AliExpress, so it is clearly a successful model. If there is much left of other models. The only thing we have to hopeful about is that the interface is standardized so commodified SWE can be used to make your own Amazon or AliExpress.
Basically the ad blocking approach has failed, and one needs to recognize that an allow-list based approach is needed when consuming internet-based offerings. Pick the cherries out of each website, leave the trash behind, and then build a custom per-website GUI around the things that you actually want to consume.
The elephant in the room and the really "tricky part" involves powerful advertising and copyright-holding companies. They will (continue to) interpret that kind of user-agency as an existential threat. Their businesses revolve around deciding and knowing what you actually see and do with your computer, and their toolkit isn't just technical, but also economic and political.
That's why we already have problems with DRM, "felony contempt of business model" under the DMCA, browser fingerprinting, and everybody surrendering to arbitrary JS code controlling their computer. We capitulate not just to see an article or talk to a friend, but also to avoid our technical details getting into a secret un-appeal-able "suspicious" blacklist.