It does effect the people who want to watch those videos, because once the humans at youtube are alerted about the problem, the videos are put back up, as in the case of the blender videos. But if it was an intentional human takedown, the videos wouldn't be put back up.
It also has implications on the future of all other videos. If it's actually an intentional plan to take down free videos, then that means we can expect the people who made this decision on blender to continue their plan and take down other free videos. But if it's an algorithm mistake, we don't expect it to become more widespread, and hopefully the algorithm will be tweaked so that it will actually become less widespread.
This thread is about a company (500px) intentionally taking down free content for business purposes to make more money. Saying that youtube is doing the same thing is false.