I've been enjoying YouTube Red/Premium for about a year and a half but I'm kind of considering cancelling it to go back to using an adblocker for YouTube's embedded ads and supporting specific creators via Patreon or something. The majority of the channels I watch embed their own ad-reads into their videos now so the ad-free value proposition for Premium is getting much weaker for me.
I was considering it too and I don't understand why Google doesn't force the creators to mark up when the ads start and end so it could just jump over them for people who pay YouTube Premium to specifically get rid of ads. People like us will stop paying go with a adblocker.
I cancelled my Google Play Music family subscription (of which I was the only user at that point) and then signed up for a normal subscription. Didn't realize doing so lost my bundled Youtube Red subscription in the process. Started getting midroll ads on YouTube on my phone and couldn't figure out why...
As someone who only uses YouTube for music I'm glad that embedded ads are not a thing for music channels. YouTube Premium is worth a thousand times more than any Spotify subscription.