Seems weird that Google wouldn't figure out something so obvious... unless it were in their interest not to do so.
Kids are definitely able to navigate YouTube at young ages. My son at three could navigate to just about any arbitrary kid topic from any starting point. He could start from Daniel Tiger to 1980 Spider-Man to some weird Korean show with talking busses by surfing the recommendations.
Also, whatever your CTR is, it becomes a lot less meaningful if it turns out the majority of your users are illiterate and between the ages of 1 and 4.
I guess the money making scheme/scam here would be an advertising firm where you make commercials that incentivize viewers to put their finger on the video during the ad and appeal to toddlers.
An ad like "Put your finger on my face! Owww!" may deliver obscene "convergence" numbers. So long as the clients don't figure out the demographic of their viewers, you get the big bucks.