Well TV ads actually are regulated in many countries. There are restrictions on what products you can advertise, what the volume can be, how long the ads can be relative to the content (especially for children's programming.)
Well maybe if internet ads were regulated like that, we wouldn't have this war over them the way we do now. Regulation like that likely would have prevented many of the abuses that drove people to invent ad-blockers, and so many people to install them: pop-ups, pop-unders, opening new pop-ups when you close one, flashing colors, auto-playing video ads, penis pill ads, ads with sound, ads with malware, etc.
