Demonetized is often a misnomer in this case. The actual term YouTube uses is "limited monetization", which shows the limited ads on the video, and still earns the creator money from those ads. The issue comes from those ads being super cheap because no one wants to put ads on those videos, and therefore the creator makes a fraction of the usual revenue. Found at least 1 post from 3 years ago saying 1% [0]
> they would do it by actually addressing creator concerns about reliability of their revenue streams.
Until users are more willing to pay for YouTube, YouTube will continue to have their own concerns about their revenue streams, which is the same ads. Basically giving the ad companies all the power in this ecosystem. [1]
I've heard plenty of creators advocate for Premium because it is also a more predictable (and profitable) revenue stream and takes the ad companies out of the ecosystem. [2]
[0] https://www.reddit.com/r/PartneredYoutube/comments/ipkrxv/co...
[1] https://www.businessinsider.com/analyst-predicts-the-youtube...
[2] https://mas.to/@TechConnectify/111319895234933188 from just a few hours ago.