ThePirateBay, for one, no longer even stores torrents--only magnet links. I wonder what kind of profit margin their ads pull in...
I'm not saying this is right, but in my experience it is pretty common. I've witnessed multiple instances of people teaching other people how to torrent including once in a jury lounge in a county courthouse and many times at workplaces that produce digital goods (software) and the general idea seemed to be that if they can get whatever digital thing (eg. the latest episode of Game of Thrones) for free, why not? And yet these are people who drive nice cars, wear nice clothes, and buy lots of expensive gadgets, squarely in the demographic of people that advertisers of non-digital goods like to target.
OTOH, I would suspect TPB (like 4chan) has a problem where advertisers of "upscale" goods just don't want to be associated with the "brand" of the site, regardless of the demographic match. But I don't think the fact that the users are people who want things "for free" is a disqualifier.
That's perfectly written. TPB once stood for freedom of the internet, even I don't deny that. However, when the original founders gave the website to an offshore company it became a website purely for profit but continued using the "freedom" excuse to create some kind of moral high ground.