"Hate speech" is a really anti-freedom concept which too often amounts to just "unpopular speech". Unfortunately, a lot of people believe in the idea, on both the political left and right. In the end, YouTube may end up losing too many creators with these kinds of actions, and they may suffer financially for it. YouTube Premium's original series for example are all completely soulless corporate boardroom creations -- if that's what they envision as YouTube's future, then they're going to be out-competed eventually.
If I was YouTube, I would make in-house monetization much more selective, but give creators the ability to add their own advertising using the exact same systems (eg. text pop-ups, wait-5-seconds, sidebar ads, etc.) for a monthly fee dependent on the view count. Then
all creators would have the option of negotiating ads out-of-band, and YouTube could more reasonably position itself as just a platform.
Are there any good YouTube alternatives?
https://d.tube/ is one which seems vaguely decentralized, though its underlying steem and ipfs platforms are naïve "do the first thing which comes to mind" systems. I have zero confidence in the robustness of these systems, and it's not even a "perfect is the enemy of good" situation, since dtube is also pretty janky. It's disappointing, though I guess there just aren't enough people interested in this stuff to put enough man-hours into it.
I really doubt that YouTube is bad enough at this point for any centralized YouTube clone to become popular enough to be profitable. Delivering video is expensive, dealing with copyright complaints is expensive, and YouTube has the advantage of a huge historical library, a pretty good AI, and network effect. IMO you could throw $100 million at the problem and still not out-compete YouTube at this point, unfortunately.
I think people have come to notice that no one on the internet is as good for video streaming. Youtube and Google may have their flaws, but all the good content is on youtube -- it's the only place you can go if you want to make any money making content.
The alternatives don't have that yet, you can't make any money at all on other platforms and their payments are shoddy at best (this is being compared to youtube competitors, not youtube live competitors like twitch)
Youtube should really open up their advertising platform, and allow people to make money with their own ads on their own video -- though I don't think Youtube wants this as it opens up an issue of if they should also be censoring the ads that are on their platform which arent their ads. Should they be taking a cut of these ads as well? I would think yes, but what's a fair number.
Many things to think about, and I don't think Google wants to spend the money at the moment to fix this issue -- they would rather just demonetize and move on. It's a lot easier and cheaper, less media coverage.