I have no idea from what perspective your argument comes from. Frankly, I don't think you do, either. But I think in speaking to any resident of San Francisco you will hear many trends like this relating to lopsided (mis)use of police resources, and it comes in many flavors.
Almost worse (as it is always for dumb ideas of this kind) is the enforcement. Are we going to have a whole system of definitions of what is billboard (when is it just a poster), jurisprudence, inspectors, etc. The kind of 0th order thinking of '"they" should ban X' has no relationship with reality, even if it sounds like a good thing if you dont think about it (personally I hate advertising) This is the same class of stupid idea that makes no practical sense that we see in various populist political campaigns
Edit: I have to admit, I didn't anticipate so many seemingly angry (and condescending - the guy talking about animal cruelty laws and "we encode complex things...", lol) replies. Anyway, the above is just my perspective, I guess if you want your tax dollars working towards something like this, there is a pathway to a billboard free future