Every decision, from progressive enhancement to supporting bleeding-edge features comes with tradeoffs. Youtube is still choosing tradeoffs, it's just choosing them based on what will work best in Chrome specifically.
Speaking personally from my time before working at Google, the second network request is definitely the worse of the two options if you can’t do anything until it completes for most people- the round trip time kills you in the median US case I am familiar with.
At Apple for my small project we didn’t have these constraints so we just shipped a giant JavaScript bundle with feature detection and browser-side re-rendering that worked alright.
I am defending using the UA to tier responses based on the principle that it lowers the latency before the page is useful to the user, and I don’t see how that is a sinister practice.