LogFAQs > #973514389

s0nicfan posted...

It says "may." Google isn't going to shoot themselves in the foot and delete videos people are still watching. That's good ad revenue. This is likely for dead accounts with dead videos that nobody watches that have been sitting there for years.

That's a bit of a relief. It seems the Datahoarder topic on this are saying the same sentiment and apparently it's already had a similar policy to this.
That said, it seems if you find something you really like you should probably download it as you might never find it again. It's funny how that old saying of "anything you upload online will be there forever" is now completely outdated since many uploaded things are now just gone forever once enough time has passed and people dedicated to preserving it even for former big names either lose interest or are lost themselves.