How does limiting your advertising help your monetization? It doesn't. This is about suppressing speech in direct competition with their advertising. Google is so utterly dominant in advertising, they set the rules, not the advertising clients. Good luck with your boomer ass marketing department. I bet most of the advertisers who "made a fuss" did it because of their own internal corporate politics de-emphasizing traditional advertising jobs since it's effectively being outsourced to Google. Simply do not give the clients the option to pick, they are advertising on your website, not the individual videos, and most viewers (plebs) recognize this.
This is a combination of corporate wokeness and actual governments outside of the US seeking to control speech, particularly inside the EU. Monetization itself is a red-herring discussion.
But I guess you'd rather have LGBT videos get demonetized en-mass because of advertisers being given the choice to discriminate. Just like how Facebook does racial discrimination in their ads.