One of my favourite memes of all time, so it's sad for the original video to be removed from Youtube, however, I am confident it'll still be available elsewhere, and, of course, as part of thousands of existing meme compilation videos.
Sure, the Youtube team removed it, but ultimately, they're a private company, right? Aren't private companies allowed to moderate kind of however they want based on their own terms of service? They have a "graphic and violent content policy" that they're allowed to enforce. I always found the distinction between a private company's ToS and "the public good" a little tricky to understand.
Anyway, maybe this news will, in a tiny way, help other online video-sharing projects like PeerTube or Vimeo.