I don't know about that. Tiktok, Lamborghini, Tesla, Krispy Kreme, The Dollar Shave Club, Tupperware, Rolls Royce, Costco, Trader Joe's, Go Pro etc all do little to no traditional advertising and do just fine.
Not that there's anything wrong with some advertising to get the word out, but when you're getting spammed with ads from every angle, that company starts feeling a little scummy to me.
While some now invest in some level of traditional advertising, it's not what made them big. As you said with Tesla, they only started advertising when people started realizing they were crap, and even then compared to other vehicle manufacturers they spend little. Go Pro used influencers and content marketing by their customers, the Dollar Shave Club made it to fame through viral videos.
https://www.linkedin.com/pulse/viral-branding-10-brands-got-big-without-advertising-kent-lewis/