It's not that it is not understood...it's that it's loathed. I despise being the product for countless thousands of companies and individuals who can't seem to find a way to monetize their businesses in any truly legitimate kind of way. We have moved so far away from tangible, real products to completely virtual products, it seems no one really knows how to monetize anything anymore without monetizing the target audience itself. I long for the pre-advertise
everything,
everywhere, all the time days.
There are times when I'd happily pay for a product. Sad thing is, its just not an option most of the time anymore these days...there are just paywalls and prolific ads now.
Another thing is, advertising on the web is far from benign. It is part of a monstrous (and I do not use that word accidentally) system of deep tracking that generally knows more about each individual than they know about themselves. Deep knowledge about every single person who browses, sold to other advertisers so that in the end, there can just be more tracking and gathering of said knowledge. I use adblockers religiously and block third-party cookies whenever I can (which is becoming harder and harder as web sites themselves start integrating more and more third-party services that require cookies, and usually do their own tracking). I don't use social media. I'm in the process of switching to encrypted email. I like my privacy and security...monetization of me, means I have to give up my privacy and security in order to view something...something who's value is not necessarily well established before hand.
I really like buying and reading books, just as an off the cuff example. ;P It also used to be that we could buy and sell things with something we called a dollar bill, where proving who you were and that you were good for paying your bills was unnecessary, because we traded in a "real" currency (fiat maybe, but more real than bits zipping about wires). Anyone remember buying books in real, physical stores with actual dollar bills?
It's not that we don't understand. We just loath the environment within which we ourselves are being bought and sold like a run of the mill commodity, for "product" that may or may not be worth the price, if it is worth anything at all, just for the occasional gem of useful knowledge, insight, or what have you.