I am more optimistic on that one. AI provides a pretty clear way out of this, since it allows you to automatically detect the bullshit. Meaning either the bullshit has to raise so much in quality that it is indistinguishable from good content, in which case it would not be bullshit anymore, or it will get filtered. AI can also transform bad websites into good ones, like a super-powered ReaderMode, AdBlock and more all rolled into one, so a lot of the "lets plaster everything with ads" will lose effectiveness.
The problem over the last decade was that Google completely lost interest in being a search engine, they are just an ad company and as long as search leads you to more ads, they are quite happy. So the user experience went down the toilet.
The real problem with AI is that it will remove the incentive for the authors. Content producers want to get paid, with AI you can just extract the information from an article without ever viewing the article or the ads around it.