The funny thing is that YouTube has now enshittified to the point where people routinely DO wait well over 5 seconds to watch the video they actually wanted to watch while interstitials and other commercials are jammed in. Even with adblock enabled, the latest YouTube code won't unlock the first frame of the actual video till some period of ad time has passed so you just sit there looking at a black screen. This on its own definitely isn't enough to get people to leave the platform, but it's still notable how much worse the experience has gotten compared to a few years ago.
On what setup? All YouTube videos load and start playing instantly for me. Every time I've experienced otherwise in the last couple years, it's been my first indication that e.g. AWS is exploding that day