When we built the first reddit ad system, none of us liked ads, and we knew that a lot of users didn't either. We knew that we had to make useful ads if we wanted people not to block us. We knew we had to make them unobtrusive and even enjoyable.
We knew that we had to build an ad product people enjoyed if we wanted them to be effective and not get blocked.
And we knew some people would block them anyway, and that was fine. Heck, we even added an option to turn them off if you paid us, so that people had options.
I used to not run adblock as a way of supporting sites I liked, but then all the ads got so bad I just couldn't do it anymore. Now I just find other ways to pay for the sites I love.
The ideal situation is never advertising ad blockers, never bragging about them, never making a big deal about them, and keeping some mild barrier of entry. This way the average person who has less of a concern about ads will not run an ad blocker, and meanwhile the one who never makes money for the company to begin with doesn't have to deal with it.
Ads of all of these types generally compete for the same slot in an auction.
So yes, a user who has adblock is worth less than a user who doesn't have adblock but also doesn't click ads.