You can configure adblock to block it. It does leave a weird gap between the flickr nav and your bookmarks bar, but that weird gap is better than the god awful yahoo nav. On any flickr page with the nav open adblock and select "block an ad on this page". Follow the steps and adjust the slider until the ad is gone. No more ugly ass bar.
If my experience is any guide, I bet Yahoo is seeing users get to 'new' Flickr, pull their hair out for a minute trying to do whatever they came to do, and then leave.
Management is saying 'let's at least offer them a place to go when they leave'.
If she can't even keep her own flagship redesign fixed, she can't change their culture of asphyxiating products people actually loved.