Technically YT Premium includes "4K" which matches the price point of Netflix's 4k option. YT seems to have to spread their share around to more people as well,

Technically YT Premium includes "4K" which matches the price point of Netflix's 4k option. YT seems to have to spread their share around to more people as well, as a common observation for content creators is that Premium views offer much higher revenues than ad-supported views.