If rolled out widely, this would make web browsers and third-party YouTube clients without a DRM license unusable for YouTube playback, download, etc. This would include almost all open-source web browsers and almost all third-party YouTube clients. Archive link to reddit post about this
I think they don’t want to own moderation of it. Which I get, but ultimately feel the same way you do. I’m happy I’m on there, few years as well, but do wish they had a comment section.