Since you're defending YouTube, let me ask you a hypothetical.
If the people same people who're running YouTube were allowed to delete TheColi, do you think this website would survive?
I'd say it's a good bet that it wouldn't, personally.
Whether I answer yes or no to this question, I fail to see how this applies, unless YouTube/Google somehow own the Coli.

We're talking about YouTube deleting videos on it's own platform, not mercurially deleting content on random websites.
