> Technology has caught up many years ago

citation needed. Youtube still gives you crappy, unlistenable 153kbps crap.

There are a number of studies on this but this one has a good summary (1). The TL;DR is that over 256 kbps for MP3 there's no significant data that listeners could perceive a difference to CD quality audio. Lower than that you can perceive artifacts.

I'm too lazy for finding this but I recall this study or similar repeated for trained listeners (musicians and mastering engineers) with the same results.

Note that MP3 is 30 years old and newer perceptual audio codecs can beat it.

YouTube picking lower bitrates is a problem but the qualifier here is "at sufficient bandwidths."

(1) https://www.researchgate.net/publication/257068576_Subjectiv...