It's definitely helped shift budget from premium targeted sites to bottom feeding sites, but (at least in my experience) a.) There's still plenty of money for t

It's definitely helped shift budget from premium targeted sites to bottom feeding sites, but (at least in my experience) a.) There's still plenty of money for the premium sites (either because a brand wants to be associated with a nice site and/or not associated with adverts on shitty sites, or because it helps build up the cookie pool once people click the ads which then lets them retarget those users) and b.) CPM rates for those premium sites are still considerably higher than would be paid across RTB or retargetting networks.