I think this a pretty excessive hike, and told them as such. I readily admit that I consume a lot of Youtube - it's replaced a lot of my other content (cable, etc) and I'm willing to pay for it. But this is a pretty big step. It'll be over $300 USD/ year, in fact.
When they biffed the Google Play Music -> YT Music transition, I tried to cancel but the ads - oh, god, the ads. They were TERRIBLE and I've only heard they've gotten worse.
Ugh. I really like compensating content creators more than they get from ad rolls, but this has me real torn. There are, of course, ways to pay less via other countries portals, but I expect those loopholes to be closed shortly. I primarily consume on iOS mobile devices, so ad-blocking is tough (though Vanced is A+ if you're an Android user).