Yes, but I remember reading years ago that you should never rely on somebody else's website for your success. It's fine to have somebody else's website as PART of your success, but not rely on it entirely. Because at some point, something will probably go wrong. For example, either the algorithm will change, or somebody will report you and you'll lose your account. Just as at some point your hard drive on your computer will fail, so backup is essential. Never rely on just one thing.

There is a very successful YouTuber I follow called Tom Scott. YouTube is his main thing, but a while back he started building an email list and sends out a weekly newsletter. He did this because he doesn't want to always be at the mercy of YouTube's algorithm.

A more extreme example is animator David Firth. He makes some truly boundary-pushing videos, and one day loads of his videos got demonetised by YouTube because they were deemed unsuitable for adverts. Luckily, he already had a following elswhere and managed to get many of his followers to start paying him on Patreon.

Of course, it depends on what type of content you're creating. The more controvertial and creative types will have a higher chance of falling foul of "The System". But it's still worth keeping in mind.

Of course, I'm saying this to myself as much as anyone, as I haven't built an external email list from here. But I have started to get some paid work elsewhere, so at least that's a step in the right direction of not being dependent on one platform for my earnings.