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>regulation, aka government overreach //

I think you're mocking those who say this is overreach? But the tone is hard for me to be sure about.

In any case, regulation would seem to protect jobs here (jobs of content creators), although what it does to freedoms is much harder to analyse.

Small nit: YouTube has to adhere to it’s Terms of Service and any other “click to agree” policies. However, those documents and policies are incredibly broad like you mentioned.

> YouTube has to adhere to it’s Terms of Service

Which say very clearly that they can kick you off at any time for any reason, similar to those “We reserve the right to refuse service to anyone” (unless the reason is racism, religion and other protected categories)

youtube is a de facto utility (like most of other Google products) and should be regulated accordingly