My two main concerns are;

1. It doesn't solve the issue of "bad actors" or inappropriate content. Look at Logan Paul, he keeps posting awful shit and still has monetization. Meanwhile, I haven't received a single strike for copyright claims or (actual claims) of videos "not suitable for advertisers" after two and a half years.

2. Now that I'm demonetized, what incentive does youtube have to promote (or even suggest) my videos? So, how will I hit their requirements...or how will somebody just starting out get a channel going?

I get that they need to have a place that advertisers want to come to, but content creators (who are the ones bringing in those ad dollars) need to get compensated also. The power needs to be in the hands of content creators, companies are taking unfair advantage of them and reeling in all of the money for their hard work.