The irony is that it will probably cost Google way more due to the overhead of DRM for normal users than what they save on "lost" capacity in the current situation.
Can't say I agree. I'd guess it'll turn out like the Netflix shared passwords situation where everyone online predicted mass cancellations, and Netflix subs grew in actuality. Most people won't give up YouTube, they will either stop blocking ads or pay for Premium. At least enough to increase their profits.