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If the reader has to wade through 10 ads every time he opens the book, ad-stripping software will be as common as Adblock Plus--or people just won't buy the ad-infected versions. Unless, of course, they're all on one page... but 10 ads on a Kindle screen are awfully cramped, and it's worse on an iPhone screen.
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This.
I can't think of anything where I've seen 10 ads crammed together at once. Are they all going to be on the same page together? That's not much real-estate, and it practically guarantees that the reader won't read the ad.
The web ads that make money and build brands (in my opinion) are the largish ones on sidebars that have really lovely pictures. Not the crammed text ones. I don't see an advertiser paying for that - I don't think they'd get the return on their investment.
(Maybe 5 years ago when they'd pay ad money for ANYTHING, but they've gotten a lot wiser to what works and what's a waste, imho.)