I see the purpose for those who want their kids watching YT ad-free, but otherwise there's ReVanced, NewPipe, and STubeNext.I heard YouTube Premium is very cheap in certain countries. And you can even pay for a year upfront. A little birdie told me you can get it as cheap as £8/$10 for a year if you take a vacation to one of those particular countries.
Especially useful if you use YouTube a lot on your phone and TV like me.
YouTube Music Vanced still works so I've not upgraded to the ReVanced edition yet.