HN users tend to get annoyed by (1) ads, (2) paywalls, and (3) articles without enough research (aka time aka money). I'm cognizant of the fact that HN isn't a hive mind, and so these complaints aren't necessarily coming from the same people—but some certainly are.
Well, which is it? Or do we expect content creators to work for free?
If we have to pick a poison—and, well, I think we do—the ad model has one major advantage: accessibility. If we want to make information available to as many people as possible, an ad-supported model is the way to do it. Paywalls lock out everyone at the lower end of the income bracket, and force everyone consume content from only a smaller number of sources (since subscribing to every website is impractical).
This isn't to ignore all of the negative social consequences of advertising. The question isn't whether ads are bad, because they absolutely are—the question is whether they're worth the cost of accessible journalism.