[micro_softy]

No. But they could theoretically kill the "big guys" internet.

If a company controlled search, blogs, video content distribution, email, web browser, mobile phone OS, regional internet access, etc., and that company derived 98% of its revenue from ads, then ad blockers could theoretically kill its business.

The question is can the "little guys" internet survive without relying on handouts from the "big guy"?

philipkglass answered this question at least with respect to the www part of the internet.

History shows a noncommercial internet and then a little guys web predates the big guys internet.

A more intriguing question is whether the big guys internet can survive ad-blocking. The big guys internet relies on little guys all coming to the big guys for handouts. The big guys internet produces no content of its own. It simply acts as middleman for the little guy and sells ads.