I would argue that Youtube, while being a video streaming service, is fundamentally different than Disney+, Hulu, Netflix, etc.

Biggest difference is YT does not incur production and distribution costs (ie distribution rights). Creators on YT upload their videos and YT only pays out when they also make money off the ads.

So if a creator made a video and published it on YT and the thing got 10 views and no ad-revenue, the only cost for YT is the infra costs. Contrast that with a company like Netflix where they purchase rights to a film or TV series that flops.