Yeah, I've been looking a lot into this, and YouTube doesn't seem very good for generating enough revenue to make it worth your while to take the time to produce high quality videos. That's why we get these barely edited 15 minute videos of meandering content.
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Yeah I couldn't even remotely come close to living off the revenue. It's more that any money you generate simply gets put back into the stream or channel via new technology that you purchase. I won't speak for everyone, but I feel like at least from my perspective, I wouldn't do all this if I didn't enjoy it since it's not easy fitting things in with work and life.