There are protected classes by law. If anything the trend has been to extend them.

Advertising is a bit funny of course. If we're talking about magazine advertising, for example, there's nothing keeping you from advertising in a magazine that's overwhelmingly read by women, wealthy white guys, or black people. However, the law frowns on explicitly targeting (or excluding) a protected class.

I don't think we should dismantle them. I agree with others in this thread that not offering an option is exclusion. Because excluding people from important things like banking or housing leads to a worse society. And because people have excluded [group] before in an attempt to limit the reasonable risk of doing business in society. Laws are required to prevent that kinda behavior.