Earlier quoted context omitted.
I find that very worryingly vague. In my reading though, that only applies to YouTube itself ("the Service"). It seems to be saying that your Google account can lose access to YouTube, not that you can lose access to your Google account.
It's recently been proven that the two are one in the same (look up the "Markplier YouTube Ban").
The thing that was apparently against unspoken Youtube policy here was this kind of interactive, emote-driven streaming. But I get the impression Markiplier didn't get banned, only their fans.
It's bizarre and alarming.