I totally agree with you in that it is now completely useless in comparison to what it was.
But to be fair the accurate version could be used maliciously (for stalking someone, etc). I just don't use that tool at all anymore.
It's strange to me that you think this was a choice of developers instead of marketers or business holders. My understanding is the impetus behind this decision is that likes / dislikes have a negative effect on people in the social space. Though it makes things slightly harder to navigate in the youtube space, I think overall it is a well intentioned change.