It certainly does not, it makes it all the more clear that it is foolhardy to rely on these centralised corporate entities to carry your message for you unless that message happens to coincide with the current desired narrative - and even in that case it would be wise to not rely on them given that the narrative can and will change.

Every grain of sand leaking from their hands adds to the viability of a decentralised 'net so the more they censor, the more they'll lose. I say let them lose everything, let Youtube become a wasteland of cat videos interspersed with government broadcasts and kitschy music videos, let it become the online equivalent of a shopping mall past its heyday where elevator music echoes through empty galleries, let interesting material migrate to alternative distribution channels. All that is needed for that is a reliable CDN, a problem which might be solvable using p2p distribution like Peertube and LBRY do. Once this is established there will be another fight, this time led by copyright holders who insist on blocking these channels so the system needs to be robust against such attempts.

Will there be fewer 'Youtube millionaires'? Sure, that was a short-lived fad which is unlikely to survive in a decentralised 'net. Is this something to mourn over? Not in my opinion.