Otherwise, if we would allow this interpretation, then the entirety of modern internet technology is potentially infringing. This is ludicrous.
Nothing substantially different happens when you view the video in your web browser than when you download it using youtube-dl (mpv, the media player, even wraps youtube-dl so you can directly stream a youtube video). In both cases HTTP requests are made, followed by some processing of the data. Does that mean adblocking software is infringing too?
I don't know, maybe the US has totally lost its mind and this kind of thing would fly there, but certainly not in Europe.