Content creators earn much more money from product placements and ads within their videos than they do from the ad share that YouTube pays out. With a medium-sized German YouTuber, you easily pay 50,000 euros for a 30-second review of the product. And in the video, he talks about several products. To earn 100,000 euros just from views, the video must be clicked millions of times.
Content creators would immediately look for or build another platform if their most important source of revenue was blocked.