I believe he is referring to the fact that YouTube don’t have to pay upfront for new content, they even get new content without hunting for it, and many smaller channels don’t have partnership and so on.

Sure they have a platform, backend and so on. But Netflix needs to have all that too plus buy things to show to their customers.

This is a bad thing. Google could easily make it so you can’t use any of their services like YouTube and Gmail without using their browser.