A lifetime of thinking that companies can reimplement cool tech they have in use somewhere else in a place that it would be even more useful has left me disappointed in the possibilities. I’m not familiar with Pixels because I don’t use them, but even if I took you at your word that it is automated captioning that works, I wouldn’t hold my breath that it will show up on YouTube just because Google has the tech on a Pixel.
It’s not like companies like Google have never had technical regressions either. Their core service, Google Search, is less useful to me than it was 10 years ago.
Search became less useful because it's optimizing for ad revenue, not user experience. I don't see that conflict of interest here. If anything, better subtitles would lead to more watch minutes (from non-natives) and hence more ad revenue.