Earlier quoted context omitted.
advertisers pay more per impression when they can target better. Publishers show ads and get paid from advertisers. (simplified)
The problem is, the really big publishers have a cachet to the point where ad targeting works against them. As an advertiser, why would I pay big money to target an ad to the affluent New Yorker reading audience when I can target those same people for pennies on the dollar on other websites?
The same happened when covid first broke out. Brand conscious advertisers didn't want to be associated with any covid-related content, no matter what the context.