Many years ago São Paulo heavily regulated outdoor ads [1]. It was a huge leap in quality of life for the citizens - the removal of all that visual noise and the sudden reappearance of the underlying architecture unveiled a beauty most inhabitants didn't remember existed.

It got to the point that, when I visited New York, I got angry at the full-on sensorial assault. My mood was always nasty there.

If this is done responsibly, and used to extend architecture in ways it wouldn't be feasible before, I don't have many reasons to be concerned. OTOH, in places where visual pollution is unregulated, oh boy, it'll be bad.

[1] https://en.wikipedia.org/wiki/Cidade_Limpa