It can certainly break if YouTube changes something on their side, but I've never had huge issues, so it's probably not something that happens very often. But the mobile site is a good fallback option.
Mostly the benefits outweigh the downsides for me, for a lot of reasons: data export is a big one. The ability to download videos/audio is another. Background listening is another. It's also way more battery efficient than any of Youtube's official apps for video or music.
One thing I would recommend, the version in the offical F-Droid repo works, but you can also install the direct source in F-Droid, which will get updates/bugfixes much more quickly.
Same sometimes happens for me with a single video if I come back to rewatch/finish watching the next day. I can live with it too.