Cool. Yes they deliberatly block chrome extension on mobile chrome, as then ublock usage on mobile would explode. Together with myth of mobile ads. Do not evil. Riiiight. As long as it does not hamper our profit.
On mobile, rooting and using a hosts file to block malicious/ad domains is better anyway.
For me, the bigger issue with a hosts file is that it doesn't cover conditional cases. For instance, there are times when I want to read some comments or play a video, or even unblock a single page element, but otherwise I want to block that stuff entirely. Facebook comments is one example.
My recommendation is still to do both. Hosts file covers other apps nicely like stupid in-app banner ads, while using Firefox or something with ad-blocking extensions still lets you browse the web without breaking some sites entirely.