As someone who uses ublock origin and has been blocking ads for many years, I will consider turning it off if this is effective. My problem is not with ads themselves, it's with terrible ads.
some terrible ads don't look terrible, but instead behave terribly. Violating your privacy, Consuming your bandwidth, ect. How would you recognize these except to audit them yourself? If you read the criteria from the coalition for better ads:
...the following types of ad experiences fell beneath the initial
Better Ads Standard: pop-up ads, prestitial ads, ads with density
greater than 30%, flashing animated ads, auto-play video ads with
sound, poststitial ads with countdown, full-screen scrollover ads, and
large sticky ads.
In other words, privacy compromising is not considered bad behavior. Nor is exorbitant use of bandwidth, It seems their focus is merely on what the average consumer would consider toxic.
This is where it will fail (if indeed it is true).
Privacy is not a massive concern for people, but it is a concern. It's enough of a concern for people to mistrust the brand serving the adverts - google.
Considering how much google relies on its brand, trust is a big part of the reason why people entrust google with their often very private searches.
People don't like advertising for lot of reasons, that's why they use ad blockers and not ad filters.
This is why googles attempt to introduce a block on advertising is like a salesman attempting to stop people from cold calling.
You won't have the choice of turning ublock origin off when Google implements this feature. They'll remove it themselves under the guise of "replicating the functionality of the base product".