This isn't really a qualitative judgement against advertising so much as what happens in large mature industries as waste and inefficiency and perverse incentives pile up. Look at any government/military over-spending for similar effects.
P&G is one of the largest advertisers on the planet using hundreds of agencies with thousands of vendors with millions of placements across digital media, managed by thousands of people trying to make themselves look good and get that bonus. This is a typical cycle of cleaning house.
The industry itself is slowly getting better and will eventually fix many problems through technology and regulation but there's still a very long way to go for that.
P&G is one of the largest advertisers on the planet using hundreds of agencies with thousands of vendors with millions of placements across digital media, managed by thousands of people trying to make themselves look good and get that bonus. This is a typical cycle of cleaning house.
The industry itself is slowly getting better and will eventually fix many problems through technology and regulation but there's still a very long way to go for that.