Depending on the user, it must be either the coolest thing ever or the creepiest thing ever, with little in between. Kudos to anyone that takes the opportunity and uses it as a reason to kickstart a YouTube career or something.
Regardless, it's always interesting to see, since:
1. It shows you just how big YouTube is, and how few of the videos posted there get any attention at all. The fact there's a huge percentage of the platform viewed by no one is just mind boggling to me.
2. It illustrates how little marketing skill correlates to video editing skill, since there are interesting videos going ignored due to their creator's inability to add a good title or thumbnail or metadata, or which were uploaded on a whim without any of that stuff being taken into account.
This is not even getting into the investment companies that buy artist catalogues wholesale, and therefore have a major interest in keeping old songs in constant rotation for the decades to come.
Saying any of it is a meritocracy is pure ignorance.