I've already stated this many times, I'll state it again. Get your shit out of YouTube and any other Google product. Google is a dumb, faceless, fully automated company only interested in extracting as much data as possible from its users, force them to swallow as many ads as possible, all without caring about listening to them (both consumers and creators), under the faulty assumption that they're too big for users…
Will they produce false positives? Of course. Do the benefits to content creators outweigh the costs of these false positives? Yes if you believe creative content should be protected.
The only other viable model for content creators are subscription based services like Patreon and they have/will also be pressured by the entertainment industry or even the content creators themselves to flag copyright infringement once the platform gets large enough.