Companies toying with my psychology in order to get me to buy something from them... well, that doesn't sit well with me.
Internet advertising is pretty much all lying. Even when what an ad says is factual, they're not telling you the whole truth, they're telling you a partial truth that leaves out pieces of information which they know would be relevant to you--that's a lie because their intent is to deceive you.
And by the way, I do get it: in a lot of businesses you have to advertise because your competitors are advertising. Advertising is a blight on society that infects everyone: opting out of advertising isn't a viable option without major sacrifice. I'd like to see a future where we all agree to stop advertising and rely on consumer-reports-style reviewers to obtain unbiased product information.
Not fundamentally. A lot of advertising may be well be outright lying, or close enough as makes no difference.
But... I used to go by a shop named "Cards Galore", it had its name in reasonably sized letters hanging over the sidewalk, and then when I wanted to buy a card I knew where I could get one. Nothing lying about that. I think there's a lot of advertising which is like that.
Something weaker might be true, like "large-scale advertising will inevitably lead to large-scale lying". But "advertising is fundamentally lying" is not true.