That's just the first-order effects. Ads inevitably corrupt the mediums they exist in. The canonical/obvious example is cliffhangers before ad breaks in shows intended for broadcast TV. I don't think it's a coincidence that the era of "prestige TV" started on HBO and other ad-free networks that were not constrained by making room for ad spots in their scripts.
We'll see how ads will warp gaming as ad-based monetization proliferates, but given that it's an interactive medium it could be very intrusive.
I feel like the obvious analogue is to ad-supported platforms like YouTube and how convoluted self-censorship strategies are necessary to stay monetized. If you're an indie dev and you were hoping to get your next game on GamePass, but you can't afford to miss out on the ad-supported tier, do you start changing your game to make it more appealing to advertisers?
I'm not sure it can warp it any farther than gambling loot box and gacha mechanics already have. I'm not just being ambiently sarcastic, I'm being quite serious, outright gambling strikes me as being a more potent force on the game by quite a bit than advertising would be.
We'll see how ads will warp gaming as ad-based monetization proliferates, but given that it's an interactive medium it could be very intrusive.