I find it fine, I was grandfathers in from YouTube red. It depends on how you use YouTube. I listened to a fair amount of YouTube and often have friends over and we watch a fair amount when we get together.
So for me the main benefit is in being able to play content without the screen on, on mobile and being Ad free.
For a very long time I was fine with the YouTube advertising model, but after YouTube red came out I found that the platform started becoming almost hostile with ads. There were a lot more ad’s everywhere, of a lower quality and highly repetitive.
I value not only my time but my cognitive load, soi made the decision to value those things higher then the slight cost they were asking, and I knew it would likely pay the creators I cared about more then they otherwise would since my ad viewing had an decrease in click through rates.
Google play music subscription was also a nice addition to.