The people blocking ads are quite a large fraction at this point. Some smaller publications are shutting down completely because ad revenue has dried up. You may be right about how many people would bother to whitelist just because tracking has been removed, but I bet if they included that fact very prominently in their splash pop-up it would have a noticeable impact.

For me, at least, I actively feel guilty reading publications without ads. I don't want journalism to die. But I simply refuse to open myself up to malware and spying for the sake of that ideal. If they want to survive, they need to take responsibility for what they're shoveling into my browser. Otherwise I'll take my basic online safety into my own hands.