The current web 2.0 model of advertising funded online services is completely broken, as George Gilder has set out in detail in his new book "Life After Google".
"Free" is not really free.
Not only are YOU the product, but "free" it destroys the pricing signals that a free market economy relies upon for efficient allocation of resources.
The Cryptocosm provides the solution and Steem is at the forefront of this revolution.
There are many valid revenue models for Steemit: charging app developers for use of full nodes, beneficiary % on Steemit posts (even the playing field with other apps), etc but advertising should be avoided like the plague.
Free is never free
I agree but I am going to predict that 'no advertising' is going to be a very tough sell for most people as it seems to carry a sense of easy money. I am hoping that since the decentralized aspect, there will be a mix of solutions available.