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Even with their recent efforts to squeeze money out of their users by killing adblockers and pushing even more intrusive ads, they still don't make a profit. And that's with 100% of the market share. There just isn't a way for another company to come in and unseat youtube, and youtube knows it. Hence why they feel they can get away with pretty much any anti-consumer move they can dream up.
They just have to keep users happy enough that nobody at microsoft/amazon decides to start their own money pit out of spite, and all that tasty data remains theirs for the indefinite future.