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This type of advertising is the death-knell of any site, because at that point you're interacting with an advert with some extra elements rather than a site with ads.
I'm of the opinion that it has a time and a place, but I do agree that it's exceptionally intrusive to the site's normal experience and should be very rare and short-lived. Any more than a day and its runs afoul of the people who just aren't interested.