We are no longer in advertising
Advertising was the simple art of creating messages and showing it to people who might then buy your product.
We have evolved so much beyond advertising. How could one say, for example, that it is advertising if someone was contacted by a company or even a representative of that company with an 20% discount if he/she leaves a review for the previous product purchased? What if someone was proactively offered personal style advice by a company based on his/her instagram photos (Zappos)? Or if people were ordering pizzas from within an Xbox game virtual store because they simply can?
In sum, branded content are the "ads" of today.
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