It actually does, in a way. Amazon.com (not AWS) doesnt make any money on product sales - it makes almost all of its revenue from sponsored products. Walmart as well makes a huge percentage of its money from promoting products.
My company operates only on small ecommerce sites. Because we have a huge catalog of products, advertisers can come to us and launch a campaign, and we can automatically deliver across dozens of sites. We can connect small ecommerce sites to large advertisers so that they dont need first party relationships with those advertisers. The way I see it, we are helping smaller retailers be more competitive against Amazon by helping them squeeze more blood from the stone, as we like to say in advertising.
What keeps me up at night is who our customers are. Among our advertisers, we sell ads for alcohol. While those who see our ads generally already have high intent to buy alcohol in the first place, I know from family history that even the slightest temptation can put an alcoholic back at step 0. We dont run too many of those but im still struggling with it