That content does not belong to YouTube. And they also do not pay for 99% of it.
YouTube depends on people to use it for it's existence. They also depend on those users to upload content so that YouTube can then treat that content as if it is its own and monetize it.
If I was in such a precarious position I wouldn't go about making the experience crappy for those users that I'm desperately dependent upon.
That's nice. Do they also create the content for the platform that is by far the most costly part of it? Or have they simply found a way to monetize content that does not belong to them?
Does every single creator get paid for their work and the value that they add to the platform? Or does YouTube arbitrarily get to decide who gets a tiny piece of the revenue from the content that YouTube doesn't own?