That depends on how you look at it. AOL members are average web surfers. They might not know as much as us webmasters, but that does not mean they are not savvy - they probably know a lot more about the real-world than web-nerds like all of us on here do - which is much more essential to daily life!
Now, if they are less savvy, what does that mean? Does that mean they are unable to distinguish between real content and some ads? Does it mean they are unable to complete online orders?
I bet that a lot of AOL users are the kind that just go online to look up stuff, then find a product at the lowest price and buy it, with a little tinkering with their browser and screen resolution as possible. If you look at it from that angle, then it could be a very nice pool of potential consumers from an advertisers prospective, since they aren't there to mess around with their computers - they're just interested in buying stuff.
That said, I still feel the AOL has drifted too far downstream to row back up again, particular considering how stong the current is (competition).