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While Hulu is frustrating at times, especially with its seemingly random full-episodes of certain series, your attitude about the advertising certainly won't encourage them to improve.
Remember why Hulu was created: to provide a legitimate alternative to YouTube. It was conceived as a kind of meet-me-halfway approach to online content. Consumers could get the shows they want how and when they want, and content providers could still make money.
The ads on Hulu aren't obtrusive, and are shorter than their over the air counterparts. By using ABP in this way you remove the motive for Hulu to improve, and if enough others follow, you remove its existance, however flawed.