With radio, television, newspapers, and all other classic information dissemination mediums, ads pay for things, so pissing the advertisers off with objectionable content is a bad idea. You don’t want to loose funding or be canceled outright for saying something the advertisers don’t like. Even some websites are subject to this if their advertisers or sponsors are corporate in nature.
Mythbusters vs. RFID
Jeff Gerstmann vs. Eidos
CNN + Exxon Mobil
With the internet, as it exists today, ads rarely effect the content you see on a website, unless the ads are corporate sponsors of some kind. But for sites like this one, Joystiq, Engadget, and Ars Technica, ads are placed through an ad service like Google Adsense, which detects the kind of content on the site, and displays ads that are relevant. The pool of ads that Adsense pulls from is maintained by Google, not the manufacturer of the product being advertised. So you could have an ad about remington guns on a blog that favors Smith and Weston guns, and there would be absolutely no backlash from Smith and Weston, probably no backlash from readers of the blog, and certainly no backlash from Google.
Ads on websites are not a bad thing. They help the owner of the domain pay for things, they help the company whos product is being advertised, and they help the ad service thats displaying the ads. All of this without much complaint from anybody.
You are not under the thumb of an advertiser when you’re on the internet, and that’s one reason the medium is so great. If net neutrality is protected, this remains true.
update: I want to add one point. Though Pay-per-click advertising cannot, by its very nature, affect a websites content, it is a scammable system. Pyrabang.com is trying to reduce that scamming with an earn-per-click system:
“With PyraBang’s earn-per-click system you’ll earn micro-payments on clicks of your news, entertainment, music or advertising. Pay per click systems are wrought with fraud since it’s the advertiser who pays for the click. There are actually groups of webmasters out there who make a killing clicking on each-other’s websites! With earn-per-click, there is no incentive for webmasters to be fraudulent because they are actually paying for each click in return for new members being added to their groups. This is a win-win for both the webmaster and the advertiser!”