We don't have Hulu, all their content is included in Disney+ whichh is £8 a month and they create and host their own content. You can get Netflix who also create and host their own content for £7 a month. Meanwhile youtube premium is £13 and as you point out, they don't even have to create the content, other people do it for them and they just have to host it.Yeah, but consider what other streaming services do -- Hulu charges $8/mo for their service with ads. You could argue that Hulu has TV series and movies, but I've become increasingly impressed with the quality and professionalism of various YouTubers' content that rivals that programming.
But I agree that it would be nice for there to be more tiers for YouTube subscription plans, specifically a cheaper one that doesn't include YT Music
I do think that having a free ad supported service like youtube is very valuable. And obviously comparing the US and UK markets doesn't seem viable... But when you look at what we get in the UK for £8 from Disney, it's very hard for me to think of YT premium as anything but a ripoff.