I nearly stopped watching Youtube because of it. The beancounters at that company are so damn greedy anymore. They don't make the content, they simply host it.
The frequency of ads, and the price of Premium annoy me, but I also recognize there's a massive cost associated with globally hosting free video for anyone. I'm uploading an 80GB video game playthrough right now, which will then be transcoded into about a dozen other videos based on different formats and resolutions, and just be there until YouTube ever shuts down.