From my perspective, it already has. Some of my favorite long form creators have switched to shorts for the money. As a result I just no longer bother going to YouTube anymore and just stick with podcasts.
https://www.youtube.com/shorts/H6st2yl6jNE
As they said, I think it might be good for discovery. My personal habits back that up, I'm aware of some channels I wouldn't otherwise be without shorts.
Shorts will capture your attention for longer and display ads in-between more frequently.
I find musicians and naked ladies via shorts, but I rarely extend my science and programming channels via shorts.
(Auto-Redirect Short To "Normal" Video URL would be a good extension if I knew how to do one or had time to learn.)
I'd forgive her if she was a beginner, but she's been uploading videos for years.
In a way a commercial for the content except it’s a lie roof the content.
If I'm watching proper long-form content for that same 10 minute window, then maybe 2-3 creators are getting a view out of me.
Multiply that across the millions of users of YouTube, and it's pretty lucrative to make content for Shorts. Your dollar-per-view is likely lower, but the massive amount of views you pick up end up working out in your favor.