I may agree if these were paying customers we were talking about, but keep in mind they aren't. Youtubers don't pay youtube anything. They use youtube's service to host their videos and capitalize on youtube's marketing and ad services to profit. Youtube should've handled this situation better, but they are providing services for free and are entitled to suspend that service as they see fit. The customer complaints they must actually handle well are from advertisers who actually pay them money.
YouTube is running ads on those videos and taking that money -- they may or may not give some to the video producer. YT also takes a large cut of subscriptions, tips and "superchats".
YouTube is making money here.
The issue is that YT (Google/ Alphabet) is making so much money from so many folks that they don't consider it significant to mistakenly screw over one producer at a time, because they've got millions of others.
Even for large channels, YT allows false copyright claims by large companies to hit the producer in the wallet, because Channel Bob 1M Subscribers doesn't compare to Mouse That Thanks China For Filming Near The Concentration Camps.
But the whole time, Youtube is making money on ads.
Hang on, you are suggesting that youtube generates more money for youtubers than the youtubers generate for youtube? Those advertisers wouldn't pay anything if there weren't a steady stream of compelling content to which to attach the pre-roll ads...