Maybe not in the grand scheme of things, but it might help with the draconian banning of things like covers of game music, fair use of audio and video clips, instrumentals, etc. I've seen that stuff taken down, and maybe it was due to Content ID, but I question that when the composition of the content is original. I may be in the minority, but I would be glad to have niche fan-created content stick around without seeing messages like "This video was deleted because of a claim by Universal/Nintendo/Disney/Viacom".
I've never understood why companies choose to delete videos rather than just monetize them. I've uploaded videos with copyrighted music, rather than get deleted the owners chose to have ads shown in my video(my channel is unmonetized) and I'm assuming they make money from it.
There are certainly some cases where this makes sense. In the extreme case, suppose someone uploads a full copy of a new movie. It seems unlikely the studio would make up for the revenue from lost ticket sales with just ads. They might be violating contracts with their distributors as well.