More like any application that interfaces with a JSON-based API. Those API calls work by talking to a server over HTTP(S) and requesting something from a URL.
There's no reason why a native app can't do this - in fact, many native apps for things like YouTube and Pandora and such already do this.
But how would that serve ads to the eyeballs? You forget that most of modern webcontent is just packaging fluff for eyeballs to more easily digest the real content payload - the advertisments.
That's not my problem. If it were, I'd solve it by embedding ads in the video stream itself, which is how traditional video broadcasters have done it for more than half a century. In the audio realm, Pandora already does this with third-party clients perfectly fine.
There's no reason why a native app can't do this - in fact, many native apps for things like YouTube and Pandora and such already do this.