YouTube just changed the ad milestone to 8 minutes, and this was posted after this change.
The 10 minutes one seems pretty arbitrary, but to arrive at 8 mins I suspect that Google studies how much time there needs to be so that mid-roll ads don't negatively affect engagement.
(Shout-out to all the wonderful, brilliant engineers working on figuring out how to minimize the user's reaction to cramming AS MANY ADS as possible down their brain)
Looking at the channel, 3 of its videos are between 10:04 and 10:09 long. Of course, that's nothing compared to a lot of other long-form youtubers I've seen with like 80% of their videos around that timestamp.