If we're talking about IRL brands, it depends on how it's put in and what type of media it is.
Most of the time, it's not that bad if it's subtle like in the background such that you never notice. But if there's a clear prolonged and/or repetitive shots of the product as the subject or there's a dialogue explicitly highlighting it, then it is quite obvious that it's an ad and quite immersion breaking.
Of course, I prefer them not to be in my media at all because it hypercommercializes art. Catventurer's example of that ramen brand inside FF15 is very inorganic and disjointed. There is no way ramen noodles would be a significant part of the story in a low fantasy world involving kingdoms, magic, pocket dimension weapons,
With respect to simulators, I guess this is where native advertising makes sense because that's what the game is based on. For example, simulator games like PC Building Simulator and all the licensed sports games (eg: NHL, FIFA, NFL, NBA, PGA, etc.). This wouldn't bother me at all considering keeping track of made-up brands and name lexicons would be even more confusing - even though the whole game is effectively one giant advertisement.
Let's just hope gaming doesn't get sophisticated enough to become something as perverted as this -
SEMI-NSFW.