Personally, I'm more concerned by the coordination between the FTC and Twitter/X. I think that's rather obviously a FAR greater threat to the nation and its people than any nominal coordination between advertisers could ever be.
Particularly when said coordination, if it happened at all, couldn't possibly have amounted to much more than representatives of said companies all noting that yes in fact they did see that Twitter is displaying ads alongside blatant Nazi content and yes they are going to yank their ads, because fuck that shit.
Everything beyond that is just Twitter/X's drug-addled CEO desperately trying to dodge the blame for his own dumbass content policy decisions.
And the FTC potentially representing his interests instead of the interests of the American people.