Why is Youtube killing itself?

Youtube has recently been seen adding strikes to and effectively removing respected channels that have done nothing differently in the last weeks. This recent censorship has been the most recent example of the company (owned by Google parent Alphabet) acting against the interests of its own shareholders or the community that has grown the platform. This kind of destructive censorship is the primary reason that other platforms will gain market share on and eventually overtake Youtube. In my opinion it's frankly a shame that such a successful tech company would manufacture the need for its own replacement by embracing such antiquated and self destructive practices.