I agree. In fact, when i inspect my StatCounter logs i see a couple of visitors who have their browsers disable javascript.
So if you are a "legit" website operator providing useful content, then these visitors are simply "stealing" your content by effectively shutting off your revenue machine while they read your articles.
One tactic i see from websites like MSN, the advertisers actually create like a one-paragraph article themselves to be displayed on your website. This article is a "come-on" teaser kind teasing you to click the "Read More" link if you want to read the entire write-up -- which takes you to the site of the advertiser itself.
So in effect, i believe the future of advertising, should be to not tell people that you are advertising.
Remember, in the old days, when someone knocks on your door and you found out that he is a salesman, you immediately slam the door on his face. People are naturally annoyed by salesmen and advertising. A consumer's motto is usually: "Don't call me, I'll call you!".
If people want to buy stuffs, they'll seek your "product-related" website (which is why most of my domains in my portfolio are "product" niches). But when people are only looking for "information" (for example, a domain about arthritis), they'll just digest your articles then completely ignore the ads around them.
