Yep. The goal they're targeting is a huge uphill battle for them. Margins on ads are so good, there's almost nothing that competes.
With Premium and TV, they are making a big push to change the YouTube revenue model away from as dependence.
Don't forget gaming. They're going after the Twitch business model there. Combining that with traditional YouTube and Stadia offers a very robust social gaming platform. They're basically going after digital entertainment all across the board, looking for opportunities to leverage cloud/ai to leapfrog encumbants.