At the end of the day, yeah, it seems like it might cause people to switch. I'm also honestly wondering, how long until a real competitor to YouTube surfaces? I realize that this is hard to build (though we do have multiple streaming platforms in existence), but Google has been playing this slowly boiling frog experiment with ads on YouTube. Now you have multiple ads per video, coupled with ads baked within the videos themselves, and sponsored content. If you don't pay for YT premium, it's kind of unusable.
The worse the product gets, the more of an opening is created for the competition. Seems like a matter of when rather than a matter of if? What if Amazon or Apple created a YT alternative that was ad-free, maybe with some paid content to sponsor creators (pay $2 a month to get bonus content from this channel). They could afford to sink money into it and it could be very disruptive, but it's like they don't dare. Maybe they're afraid to associate their name with a product that could fail, kind of like Google Plus.