Is Chrome ad-blocking a necessary evil?

Much has been said and written about Google integrating a built-in ad blocker to its widely popular Chrome browser in order to cut down on intrusive ads that do not follow the Better Ads Standards set by the Coalition of Better Ads used to improve web users experience.
There were both positive and negative reactions to this when it was first announced last June. It was only recently, before the practice came into force in February of this year, that it was clear how ad-blocking works in Chrome.