I don't care if people get into Youtube just for the money, but when it's spammy content then it becomes a problem. If you go to blackhatworld (for example) you'll see guys who use Youtube purely to try to game the system by downloading peoples videos en masse, reuploading them, and monetizing them. Still, I'm not sure what percentage this type of content make up of the overall video uploaded to youtube or if it is even statistically meaningful. Even without these issues I think we'd be facing an advertising dilution problem.
Who knows. I'll just hope the last quarter of this year somehow improves.