As an average person, if you spend 8 hours a day reading all the terms and conditions you 'agree' to, it would take you 76 days to just read them, nevermind understand them.
http://techland.time.com/2012/03/06/youd-need-76-work-days-t...
I'm not actually sure how we ended up living in a world where those terms and conditions are legally meaningful. But I'll reiterate that they can fuck right off and there is absolutely no moral dilemma about blanket filtering of ads and trackers. As to how effective they are - effective enough to prompt anti adblocking measures such as TFA.