A few months ago when YouTube decided to auto-add ads on all videos, my watch time on YouTube decreased by more than 50% since I consume all video content on either my phone or my tablet (where I don't have access to AdBlock), and I find the amount of ads I have to go through to watch a video so annoying that I'd rather not watch it at all.
As a result I spend my free time on Coursera or listening to audiobooks instead and I log in to YouTube once a day to have a quick scroll through the subscriptions page to see if there's anything worth watching. Keeping the amount of ads in mind and the stress they cause me, I am more selective and will often not click on a video that I previously would. And I don't mindlessly binge-watch video for hours on end any longer.
With the new monetisation coming in place, I can see my consumption of YouTube declining even further to the level of Google - use it as a tool, when you really have to and not just for entertainment. And I welcome it! Just thought to share a perspective of a consumer rather than a creator.
On the other hand I do understand YouTube's move. After all, it's their platform and they're not running a charity - people often forget that it's not their birth right to use a company's product or a service without paying for it one way or the other.