RE: "...you won't get content..."
Well, yes and no. Are there no other possible ways publishers can finance content? Are at least some publishers willing to provide content as a loss-leader, or to gain rep and visibility in their field? If a news organization abandons on-line publication, will that organization get eaten alive by competitors who do provide online content?
In other words, the situation is complex and, in my unfettered opinion anyway, simple "no ads, no content" hypotheses fall short. Just my opinion.