I will not justify the price increase of this post, but the high margins kinda do make sense to me.
The average profit that youtube makes on a gigabyte worth of video data, is much much lower than that 98.7%. There is such a vast amount of random crap being uploaded, that the content creators that actually generate views, hence revenue, must bear a huge sinkhole of costs for youtube. The same holds for Twitch: streams with only a handfull of watchers cost Twitch money. But it is a double edged sword. Because the reason these content creators are as big as they are, is because they could start from nothing, and upload for free. The big guys support vast amounts of amateurs trying to become big. It is probably one of the most socialistic models we have in our current capitalistic market.
That being said: Youtube is getting shittier in an attempt to sqeeze this model for extra profit.