The EU isn’t going to ban online advertising, so the question isn’t that interesting. It sounds more like a slippery slope argument.

What the EU privacy push has created is an incentive for ad networks to improve. What we are already seeing are strategies that preserve both privacy as well as a revenue stream using, for examples, cohorts or that strategy (whose name I seem to have forgotten) of adding some randomness to raw data that cancels out at the learning stage.

These aren’t perfect, but it is an improvement.