It is 'stealing' from the content creators rather than youtube. Besides, these ads are not based on surveillance capitalism but much less invasive old-school methods. Finally, there is much easier recourse against these ads. Don't watch content creators that have annoying adds. There are not many alternatives to youtube, but there are many alternatives to any given channel.

Personally I also believe that in-content ads are much less annoying. I think that is because the content-creator gets to push back on really annoying adds.