How would that work on embedded videos on sites outside of YouTube/Google, which is what the parent comment is talking about?
Put another way, an ad iframe loading a tracking (identity) cookie is indistinguishable from a YouTube iframe loading a login (identity) cookie.
If/when third party cookie blocking is fully deployed, this won't be true. Your browser won't send YouTube's session cookie to YouTube when it's loaded in an iframe on an unrelated site, so YouTube won't know you're a premium user.