You think the attention whores who post there would stop posting if the payouts stopped, if so you're delusional. YouTube will continue to attract new content regardless of payouts. Those handouts to talent less dimwits will undoubtedly end soon. Sorry to those who thought they "nailed" there career. 
To consistently produce content (even if it's content you don't think much of) takes a lot of time and effort, and in some cases, a good deal of money. The majority of the top 25 youtube videos from last 2 years were created by production companies. Youtube will continue to attract new content, but the best produced content that people are actually watching will migrate to other services.
eta or it would migrate to other services if these thread was true. It isn't. As I said, it won't happen because youtube needs vloggers as much as they need youtube.