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> certain topics—some political but some not—are not "friendly to advertising", and so get demonetized on various platforms

I think they're pretty different. If you look at the AdSense prohibited content policy [1] or the ones for other general-interest networks they don't allow their ads on sites about porn, drugs, gambling, etc. If you run a standard newspaper, for example, covering the full breadth of what a newspaper typically covers, you should be able to put ads on ~every story.

In a world without ads, the newspaper would probably be a subscription site, and would be competing with non-subscription sites that are funded by people who want to push a perspective. The current dynamic effectively prioritizes perspectives in terms of how much people want to read them (because that's where the advertising money is) while in this new dynamic there would be more prioritization based on how much money the people with that perspective have (because that's where the funding is). I think that's probably worse for the world?

[1] https://support.google.com/adsense/answer/1348688

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