Now content that does not violate any terms of conditions if also getting removed/demonetized, again following political ideology.
You are focused on Google being able to do what they are doing, I agree, they are quite within their rights to do so.
But, I see this situation same as a Github project uses Apache license to begin, to get adopters, to get eyes that find and resolve bugs, eyes that ask for much wanted features, after being successful the project changes to AGPL or Propitiatory closed-source license selling Enterprise Edition. This is slap in the face of people who gave time to the project.
Anyone who spends time in modern software industry, like an user on hacker news, would clearly see the similarities between the YouTube situation and bait-and-switch on license for successful open source software.