The biggest misconception I'm seeing is that "we won't get paid anymore" which is false. YouTube are dumb yes but not that stupid, if they allowed YouTube Red (seriously... that name reminds me of another service I've heard of before... Red Tune or something?

) to remove a creators income they would essentially remove any reason for people to monetise or even bother using their site as a business platform. You do still get paid but from what I recall it was based on the watch time of the video. I'm not sure if it has to be the whole video or a portion though.
MY biggest issue I see with it is more about licensing because it's a subscription it can be considered a paywall and thus many people using copyrighted content by 3rd parties who provide licenses based on an including condition that you don't charge people for watching the content; may get into some serious trouble, monetising was different because the user did not have to pay anything to watch the video. It seems ESPN have had similar issues. This is where YouTube's dumbness comes into play. lol