I didn't need to read the article to know. No, Ads don't make more than AWS.
Adspend has been utterly gutted since the early 00's as analytics have shown how ineffective it is. There's still very large companies that uses a nonsense correlated-purchase-after-seeing-an-ad attribution model. This is fantasy to justify existing jobs and to tell other big companies how amazing they are.
Digital ads are not going to "take off" anytime soon either, as the hyper-concentration of capital makes spends more regular and "chunky" (block of 5mil spend to each target platform from the big boys, to the big boys) which hasn't even kept up with inflation. A bearish stance when factoring in population growth slowing and political pushback/infighting/adblocking, is pretty reasonable.