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I mean, I think the closest analogy is to a TV station and a TV show.
The TV station isn't the employer of the people making a show.
On the other hand, a show and a station contract on a season-by-season basis, so AFAIK, normally a show is guaranteed payments for the remainder of a season. Youtubers don't get that guarantee. But then again, a show is obligated to actually keep making shows until the end of the season, and that isn't true of Youtubers.
And a Youtuber can pull their content that they've already made down whenever they want. Like, either YouTube or Brand can, at any point and for any reason, terminate the relationship.
Also, YouTube doesn't get any exclusivity. Brand can put his shows on YouTube and Vimeo and OnlyFans and as many other services as he wants. The only Youtuber that I've followed much, a guy that drives around the US in an RV with his cat, puts some stuff up on Patreon, some on YouTube (and sells some merch). He puts as much content/time or as little on any platform as he wants. Maybe he never uploads anything to YouTube again, maybe he puts a lot up in a given month.