The users generating the content people actually want to watch wouldn't be able to do so without the monetization that's in place, though. They can't make content for free, and shouldn't be expected to. And not all creators can rely on sponsorships to subsidize themselves, either, so most creators rely pretty heavily on ad revenue in order to stay afloat on the platform and keep the lights on.

If the creators can't afford to keep creating, then that also degrades YouTube's service as a whole, as well.