In my opinion kids should not be on the internet. Not that we can reasonably stop them, but I don't at all believe YouTube is an equivalent to directed quality content like PBS.
Whereas the PBS Kids apps (and Scratch Jr, Kahn Kids, etc) have curated content that I trust. We still limit their screen time and monitor their use by working in the same room, but it's not nearly as risky to let them use it on their own.
Coercing people into making good choices in a non-starter. We need a huge broad based social effort to educate each other on how to be safe. The government can't be trusted to do it for us. We can't just say "coerce the bad guys into submission", because the bad guys will do the same and are better at it.
Kind of forced me to try every plate.
So since individual stations curate what they fill their airwaves with, they have the option of selecting what content coming from other PBS stations they will broadcast (or not). That provides a bit of a back-stop against truly wild stuff appearing in markets where it won't play without criticism. There isn't one curator; it's many curators with regional scope of influence.
(PBS stations do end up taking criticism, and some of it can be funny. Anecdotally, I know my local station would get complaints that the exercise outfits worn by the people in a work-out show the station syndicated were too revealing. It was the '90s, and these were ankle-to-chest leotards, but people's opinion of appropriate attire varies widely. The station did not cancel the show. ;) ).
So no, not equivalent, but not necessarily worse.
Having more tools to easily achieve this would be great.