Youtube has some great content for kids.
The above being said, there are two major issues I have with the service--First is that they only support the YoutubeKids on Google devices--I have Rokus and my kid uses the regular Youtube app--with all the non-kid cruft that goes along with it.
In addition to the good kids content, there are videos that mascarade as kids content but in reality are just long product placement adds. "Gummy Gator" is always going to McDonalds to get happy meals. In fact, I don't think I can count how many different videos featured someone going to get a happy meal from McDonals. There are other videos as well that have people opening toys and playing with them.
While I don't mind that those videos exist (free speech and all) there is no way for a parent to filter those videos out. No parental controls, no ability to block a particular channel, etc.