Advertising generally distorts the truth - they call in puffery - and waste is a matter of perspective. For the most part it wastes people's time, and online it wastes a lot of peoples money invested in hardware and software. However, it generates revenue and people at an individual level some time benefit from products and services that are advertised. During election seasons, advertising by candidates and candidate backers can waste very much tv viewers time and chances for entertainment with what are essentially almost all lies and distortions.
