Unfortunately it's being killed by the obnoxious advertising, which is growing far faster than the value of the content (it's already past my personal tipping point).
At some point we can hope that hosting is cheap enough we can all host our own videos, that search engines will find our content (without any favouritism) and that such an outcome will actually be legal.
I use two Chrome plugins to eliminate all time-using Youtube ads:
uBlock Origin
SponsorBlock for YouTube. This uses crowdsourced info to skip advertising within videos as well as into/outro/subscription begging, etc. I don't think I've head a single "click subscribe and ring the bell icon" since I installed it. All that crap's a distant memory.
I think there are still overlay banner ads but they can be ignored more easily.
At some point we can hope that hosting is cheap enough we can all host our own videos, that search engines will find our content (without any favouritism) and that such an outcome will actually be legal.