I mean sure this is one of the larger players, but there are lots of large players.
If you owe the bank 1 million, the bank owns you. If you owe the bank 1 trillion, you own the bank (the metaphor works great when you compare the US to China).
Even with his revenue stream gone, Google will still be fine with YouTube being a platform they control. It would take several content creators of his influence to make a dent.
(I honestly never heard of him until today. 50 million subscribers? Cool story bro).
YouTube is a walled garden and a double edge sword. It's very difficult to get that kind of audience without using their platform just due to their market share.