You don't have to have consensus from advertisers to ban something. If an advertiser of significant enough size, or a block doing similar, threatens, YouTube will listen.
> I challenge you to point out an example of content that has been banned from youtube because it offends advertisers, that you really think the banning of which is a significant issue.
You don't have to ban it, you just have to demonetize it and content creators will fall in line.
> Whereas there is a long litany of material banned from Chinese networks for obvious political reasons.
I really think you need to reckon with this. You speak a lot about hosting your own shit, but, as American hegemony crumbles, your consumption will meet road blocks.