Its especially great because it blocks youtube pre-video ads (as long as Adblock is up to date). With Adblock on, webpages load and run faster, make it easier to read content and reduce exposure to malware. Shocking!
Seriously though, I fucking hate ads everything about them, and think they do nothing but make the user experience incredibly worse. Smart people spend their time designing deceiving and sometimes outright false ads, trying to get gullible people to click and expose their personal information, rather than developing things that actually help people.
And don't get me started on cable TV ads. They made sense in the 60s, before people paid for cable TV, when the medium was entirely broadcast for free. But now most people pay for a bundled cable channel service (or use an alternative, like Netflix). Expecting me to pay $100/month for cable TV (which out of 800 channels, 750 of which I will never want to watch but am paying for anyway) and put up with with commercials breaks that account for a third of my content time? fuck that.