Even my deliberately stupid as possible answers like "Turn away visitors once they get above 200 million connections with a landing screen" and "register Youtubes A-Z with seperate data bins and watch traffic migrate in a daft social experiment" are better answers than any I have seen from users of the talking point.
Specifically in the case of YT, as an extreme example, if all video available online in a country had to be moderated by a human, YouTube couldn't operate at it's current scale. It doesn't have a right to skip those regulations because of it's scale.
If a company can't scale and still comply with regulations the answer isn't automatically to get rid of the regulations. The inverse is also true, if a society decides that a company operating in a given environment has to adhere to new regulations, being so big those regulations fundamentally affect your business model doesn't excuse the company from complying.