This is the right way to look at it. Anything with a ton of JS ads chewing up memory now is just as bad, or worse, than a ton of Flash ads were in the early 2000s. But Flash sites were, essentially, SPAs at the time. And they were far more performant than most JS SPAs are now (although a lot of that also has to do with React/Vue/etc. and how poorly-trained coders choose to deploy them).
This is the right way to look at it. Anything with a ton of JS ads chewing up memory now is just as bad, or worse, than a ton of Flash ads were in the early 2000s. But Flash sites were, essentially, SPAs at the time. And they were far more performant than most JS SPAs are now (although a lot of that also has to do with React/Vue/etc. and how poorly-trained coders choose to deploy them).