Youtube isn’t just a thing people use to waste time, but a source of educational content. That actually matters, and there isn’t a good alternative to much of it.
That being said, I agree that people could at least drop it (or reduce their usage) if they are just using it as a time waster.
I’ve seen it go down in some cases on VPNs, so it could be a matter of time (or they’ll find a solution again and the back and forth will just continue).