I mostly hate ads. But I go out of my way to look at my amazon recommendations, which are basically ads, and work the way you describe (wishlist). I can see a future where they or something like them (I guess pinterest is kind of similar?) displace most advertising - as long as people who want your product (whether they know it or not) can find it, you don't need ads.
Of course you would need a natural way to put them back in front of the user. Some of my app ideas already have a natural "deal with it later" mode. I'm sure Facebook could come up with something.
Thoughts?