Or, the Titanic is sinking, and there is only one lifeboat, that has room for only 20 people, sorry.
Look at things from the end users point of view: How often you go outside of your homescreen?
Your smartphone is the only thing you carry with you. It has a small display, which can hold only around 20 icons. If you, your content, is not under one of those icons, you are not even a theoretical small competitor to the big companies, you do not exist. You have no chance to survive. Economically speaking that is.
So, as much as we cry about how Youtube ignores the content creator, it is still our only chance, no matter how lame that is, to have any kind of lasting career in the video content creation business. Youtube is one of those icons that might have a chance to be one of those 20 icons that the user has in his smartphone display.
Your icon is on the second page in your smartphone? Sorry, no dice. Believe me, you are still, oh so very dead. In the long run that is.
This is terrible news. I agree. Prove me wrong, please.