It would seem like a good system to help copyright holders be aware of usage. If it flagged videos for review by the holder, then left it to them to request take-down, that would seem to re-enforce Google's existing safe harbor protection, and would give artists the opportunity to not be douche bags. Of course, even with this, if you wanted to block something from being uploaded to youtube, like perhaps a political speech, you could just walk around with a boombox blaring Metallica's greatest hits in the background.
My guess would be that most of the original hires have long since moved on, due to financial stability and better opportunities. That leaves lots of 20 nothings competing hard to get those jobs. They are going to beat out inexperienced older workers easily. Most well-qualified older IT workers are not looking to start new jobs at Google, there's simply too many other exciting opportunities (Google is not going to have another IPO, afterall), and they don't need a career starting resume bullet. That said, I'd gladly work at Google (39), but they'd have to match my current 6 figure income, which is not going to be entry-level.
Try to draw a 'woman sunbathing in the nude' using 8 pixels.
I'm sorry, what else did you say... I lost tracking remembering my youth after this part. Oh, C64 sprite art, how I miss thee.