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I agree with crazygringo that uBlock Origin Lite seems to work fine for me as far as blocking ads on the websites I visit. I also agree that these discussions can be frustrating. In my opinion, that's because people claiming that Lite isn't good enough only seem to post super vague stuff, like links to the FAQ that list a bunch of technical details about what it can't do, when I don't understand the practical upshot…
This might not qualify according to one's perspective, but: Twitch. Twitch takes a userscript to block ads. UBO Full can run userscripts, uBO Lite can't, so now you need an additional extension to run the script. Of course, if you run Tampermonkey anyway, it makes no difference.
I tested it on both regular Chrome with UBO Lite and Firefix with stock full UBO, and both show ads on Twitch. I haven't looked into how to actually block them, but I'll take your word that that's the only way to do it in both cases.
It seems to me, both cases require some extra action to block ads. Full requires you to dig up a userscript and how to load it into UBO, while Lite requires you to find and install a whole extra extensions. Doesn't seem like that huge of a difference to me. I suppose some may disagree, but it's not at all hitting my bar for declarations others have made like that Lite is inadequate or Google is terrible for disabling Manifest V2.