Modern internet is not in business of producing content and using ads as means of paying for said content production and delivery. Modern internet is in business of selling ads and is using content producers as means of keeping users in front of screens while ads are being shoved into their faces.
So, yeah, internet would be different, but to me it isn't obvious how it would be any worse or less in value.
That's an interesting point of view.
I think the internet would be worse. No matter how you put it, the ads are funding content. If ads weren't viable, we wouldn't have a different kind of content. We'd simply have less content.
If there's a content business that can exist in this ad-free internet, it would already exist in the current ad-ful internet.
I don't know what kind of internet anti-ads people envision, but I'm afraid the whole thing is very damn fragile and rocking the boat will more likely break it irreparably than make it better.