They're crap. People will be and are looking for ways to evade restrictions.
Right now, they're only limiting speed with certain providers in certain locations. There are at least three ways that I know of to avoid it.
The thing is, I don't know how far they'll take it. Blocking YouTube is a major political risk. Practically, everybody uses it for one reason or another. So, unlike their "special military operation," this (as mercantile as it sounds) will potentially have a bigger impact on everybody's lives. But you really can never be sure with our mafia-in-charge anymore.
The government claims it's Google's hardware getting outdated. Google says that's bs.
I think that it's convenient how they're telling that to us right before throttling YouTube only with certain providers (and seems to be with only certain regions as well).