Why MP3? You could download AAC files from YouTube and don't bother with (necessarily lossy) conversion.
Wouldn't ogg be a viable alternative too?
Support for Opus is unfortunately still somewhat sparse, but AAC support is essentially universal on modern devicese. So I can't think of any reason to favor this approach over:
youtube-dl -f bestaudio[ext=m4a] "$URL"
Even YouTube's 128 kb/s copies won't satisfy audiophiles.[1] - https://github.com/awslabs/aws-serverless-express
[2] - https://github.com/intoli/exodus