The editorial piece of the previous issue did mention that there are fewer pages now.
If they can get the same content into fewer pages though then we aren't missing anything.
Maybe some of the longer articles that used to be spread over several pages with analysis, and associated stories to the side, are being cut down a bit.
Personally the longer articles are (for my liking) sometimes too long anyway - the references sections at the end do include plenty of 'further reading' links though when I find something particularly interesting.
I realise the advertising is probably necessary but I for one wouldn't miss it, or if it could all be condensed up into a few pages in one place instead of spread throughout the mag.