This write up doesn't seem to address efficient market theory, which is one of the chief demands driving adtech. The write up is more a list of complaints and harkens back to the good old days of out of home advertising, which is still relevant today, but moving towards obsolescence.

For example, their first point about Advertising not needing to be personal is disingenuous. Advertising needs to be relevant, and personalization is one facet of relevancy. A perfect ad is 100% relevant to every buyer it is consumed by, meaning the ad is personalized for each consumer. Is personalization necessary? Not if your goal is inefficient advertising.