Yes it is. Advertising is about convincing you to buy product A instead of product B (which may be no product/investing your money). That's the very definition of a zero-sum game.
Most forms of advertising are bad. There are maybe a few which are decent, but there are far better alternatives (such as business directories and non-paid review sites).
If you believe in the free market to any extent, you should be against advertising. The only thing advertising does is to distort the free market - by making market agents be less rational.
