Eh, there is some functional equivalence. Less than 5% of videos on YouTube have more than 10,000 views [0]. That means the vast majority of videos are functionally not published. YouTube won't promote any of those videos. They won't show up in on the Home page, let alone the Trending page. They're very unlikely to show up in recommended videos. Unless you're looking for that specific person or a very narrow topic, you're not going to find these channels, let alone these videos.
[0]: https://www.digitalmusicnews.com/2016/05/19/1-percent-youtub...