unfortunately Engadget is owned by AOL, and AOL has proved an unwilling partner in this site’s evolution.... AOL has its heart in the wrong place with content.... AOL sees content as a commodity it can sell ads against. That ... doesn’t promote good journalism or even good entertainment, and it doesn’t allow an ambitious team like the one I know and love at Engadget to thrive.
This reminds me strongly of this old, but still very relevant post which explains why textfiles.com doesn't have advertising: http://www.textfiles.com/thoughts/advertising.html