@IronFilm

They actually also introduced new term for small channels - Bad Actors.

Seems like good pair to Fake News.

Good text onthis

A Lamb, one sweltering day, came by a stream to drink.
An lo, calamity had to befall him
In that a hungry Wolf was scouring about nearby.
He sees the Lamb and rushes to his prey;
But, to give the deed the look and sense of law,
He yells, “How dare you, you rogue, immerse your filthy mug
In my pure drinking water,
and cloud it with silt and sand?
For such impertinence
I will indeed remove your head!” –

“His Highness Wolf permitting,
I will dare submit that I am drinking
About a hundred paces downstream;
His wrath is all for naught:
I cannot possibly pollute his draft of water.” –

“And thus I lie?!
You wretch! Such rudeness is unheard of in this world!
And I remember, too, a couple of summers back,
You, in this very spot, insulted me!”
“For goodness’ sake, I am not a year old yet,”
Pleads the Lamb. “It was your brother, then.”
“I have no brothers.” “Then some other relative,
Or someone of your ilk.
You all, your dogs, and all your shepherds,
You wish me ill
And hurt me any time and any way you are able.
But I will make you pay for all their sins!”

“Oh, but how am I at fault?” – “Shut up! Enough!
I’ve no time to sort through your transgressions!
You are at fault that I am famished,”

He said – and dragged the Lamb into the woods.

I guess I get about 1,700 subscribers per month, so I just don't see it as a big hurdle, if you have something that people want to watch, you will get subscribers, for sure

Here we can see example on how class conscience works :-)

Actually it does not make any excuse for Youtube. It is more general, less niche and less individual channels that will be getting to the mark.

You do not feel same, as actually you do not notice most of the work being done for each music video. It is not you who composed and arranged music, and not you who performed it, not you who made all music instruments, building where it all happens, you do not make original idea for your clips, you do not write script for each clip, etc. Some small talented lonely guy starting channel do not feel same as you do.

I mean, it's a free service hosting these vids from YouTube, and also, it's just going to become a universe of video if it keeps going. What happens when there is just too much video?

It is not "free hosting service". Instead it is profitable platform that is integral part of much more profitable empire that tracks and stores your every move (if you own Android phone), every site you visit and each of your searches. And both of them are extreme monopolies.

It may be a monopoly, I don't know. It's funny that there is no real competition....part of it is that the competition is not very good, but maybe it is a de facto monopoly.
So if it is a monopoly, you can argue, hey, you are the only game in town, everybody should have a seat at the table. But, on the other hand, it already is a giant ocean of video. If there is too much video, there's no way to sort it. It's like a museum with a billion paintings, no way to view it.

It's a weird scene. Look at Facebook, they have the whole planet hooked up, and they used to offer high quality video. Then the video went all fizzy with cheap flash and crappy sound. Then the made it better, then worse again, who knows? But the basic idea, which is to make good quality streaming and have a permanent host, really isn't there in FB. That's weird. Makes no sense, and it keeps things the way they are. Even AMD and Intel have some rivalry going on to keep things interesting. Microsoft could do something, and it would help boost their search engine (well, a bit, anyway...), or any of a number of companies could do it.
As far as unusual, I have to say a lot of the ppl I know who have a decent YouTube channel (say, more than 25,000 subs) work really hard, like working in a law firm level of work, and do a lot of the work themselves. I'm sure some have some serious money, or can get funding to have the work done (and that's a good skill....to get funding), but I don't know so many ppl with the big pile of money. I also think if you went online years ago, that is a bit of an advantage, but there's still room in the market.
I've done statistical studies of channels and random posting type stuff. Although it's hard to say what kind of views a basic video will get, one thing is clear: it's proportional to the market. Five years ago you would get more views for a random video, now, the market is becoming saturated. I tell ppl, make your channel now, or be prepared to start at a steep disadvantage. Seven or eight years ago, ppl did a study where they posted random videos, and they got thousands of views. If you did that today, you might go as low as a few hundred. But if you make any kind of interesting thing in you video, you will get quite a bit more, at least for the the short term. In six months, maybe everything will be hard to find. Establishing a channel is like creating a lighthouse where ppl can see you are there.

Here's some extra info and clarifications:

UPDATE: I’m adding answers to a few questions mentioned below to help clarify. I will continue to update with any other questions!

If I’m in an MCN but my channel has less than 4,000 watch hours in the previous 12 months and 1,000 subscribers will I be able to run ads? Channels that are in an MCN and below this threshold will be released from the MCN. To be an affiliate channel of an MCN, that channel must be a part of YPP, so channels must have more than 4,000 watch hours in the previous 12 months and more than 1,000 subscribers to become an MCN affiliate.

We can hit the sub criteria if we sub to each others channels! Subscribe to my channel. While we love supporting other channels, offering to subscribe to another creator’s channel solely in exchange for them subscribing to your channel, also known as "Sub4Sub," is not allowed. Creators who offer such exchanges risk losing subscriber numbers, receiving a Terms of Use strike, or even having their channel terminated.

Do I need 1k subs OR 4k watch hours in the past 12 months? Or do I need both? Both are needed. If your channel has less than 1k subs OR less than 4k watch hours then it doesn't meet both requirements and will be removed from YPP on Feb 20th.

Do I need 1k subs in the past 12 months or total? The new requirements are 1k subs TOTAL and 4k watch hours in the past 12 months.

I got an email saying I don’t meet the new criteria. What’s up with this? If YouTube Analytics shows >4k hours of watch time in the past 12 months and 1k subscribers total, you received the email in error. Sorry for the confusion, but so long as you meet the threshold by the Feb 20th date, you won’t be removed from YPP.

https://productforums.google.com/forum/#!topic/youtube/A3DoDo-OGyU

“channels earning five figures annually grew more than 35 percent, while channels earning six figures annually grew more than 40 percent.”

More for big guys, less for small guys.

@eatstoomuchjam

Well, it is capitalism.

@eatstoomuchjam

With each new sector or niche many people somehow think that this time it'll be different :-)
Had been with computer hardware, software, after this with search, social networks, video hosting, etc

Who else is paying us like YT? At least they pay. Sure, I would like more. But who else is paying?

I would agree YT is paying tiny amounts. I never saw much while i was in Adsence.

@DrDave

As we already saw you are very specific :-)

A lot of YouTube channels have recently got approved to be a partner at least according to what I read on Reddit this morning. If anyone been waiting, check your email to see if you've been approved.