Morals are subjective, the people that surround me believe there is nothing wrong with my actions, if your only standing point is that it's "morally wrong" then you have failed to convince me.
That, of course, is not your only point. You also believe that without the advertisements the content I enjoy wouldn't be produced. This argument has some grounds. The only problem is how actively degenerate ads are. I can outright improve almost all media just by removing them.
Let's say the "nightmare scenario" happens, and almost everyone blocks ads with ad block. Ad Block is running an initiative of acceptable ads. Ads that arn't decietful, distracting, or annoying (which, in my opinion, is a far more morally abhorrent act). So if everyone started using ad block. The world would actually get measurably better. Not worse.
And I mean social contract as in a contract you agree to by simply being part of society that stands above law. Don't kill people, don't steal things, that kind of thing. Things you do and are therefore allowed to be part of society.