Was shocked to hear this news. I worked for Google years ago but I was in the NYC office, so we didn't run into the YouTube folks much. Opinions about YouTube may be mixed here on HN, but it is objectively one of the most successful businesses in tech or media to emerge in the past 15 years. If it weren't buried inside Alphabet, Youtube would be worth on the order of $400 billion, more than Disney and Comcast combine…
To a fairly casual observer like myself, YouTube early on looked like mostly a platform for massive video copyright infringement--especially before home video became so relatively cheap and easy. I don't use it nearly as much as some here but it definitely transformed into something much different for the most part and managed to make it work as a business (at least as part of Google).
Sadly, the copyright cartel swiftly attacked and all the regular people lost their rights. It seems like the lesson learned is that the copyright-owning corporations can't be trusted to play fairly or meet in the middle on fair use. We really need to just abolish copyright laws entirely.