It would be a huge gamble, but it could pay off. Seriously, how many people are watching YouTube every day? Hours of their favorite content creators.
Imagine a rug pull, YouTube is now a pay only service. No ads, but everyone has to pay $5 a month to access. I'd bet with you that a surprising amount of people would just pay that to continue using it.
How many? Nobody knows, but it would certainly be 30% or higher. Now imagine 30% of users paying just $5 a month how much money that would be.
It can be done, YouTube just doesn't do it right now as they still earn plenty with ads. If suddenly everyone started to use an ad blocker then things would change very quickly.
You underestimate how addicted people are to YouTube. There is no alternative to it.
Twitch is streaming focused, the vods absolutely suck. Kick? Same.
What else is there? TikTok? Instagram? Neither of which provide long high quality videos.
After all we are talking about YouTube literally blocking everyone and putting up a banner: $5 a month or you're out of luck. If someone already happily pays $18 a month for Netflix, what is 5 bucks?