IMO advertising is worse than fraud. At least with fraud the impact is usually fairly clear, and not buried in our broken, manipulated, subconscious minds.
We know so little about out subconscious that this simply seems alarmist. Maybe TV really does rot our brain, maybe it's better to answer kids's questions about everything and expose them to it rather than set age restrictions.
Until some substantial info of our brains occur, I can't say the ability to make people aware of products is worse than fraud.
If all ads did was make you aware of products, we would not be having this discussion. They attempt to hijack deep-seated human urges and tenancies in order to get you to buy their crap. Watch any perfume or cologne commercial and tell me they are simply making you aware that the product exists.