Of course. I'm not saying displacing business models is bad per se. I'm saying that just because one business model can displace a different one, doesn't immediately mean it's good. Plenty of business models are morally bankrupt, and I believe "free but subsidized by advertising" is such, by virtue of advertising itself[0] being morally bankrupt.
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[0] - as seen today; not the imaginary "informing customers about what's on the market" form, but the real "everyone stuck in a shouting contest of trying to better manipulate customers" form.