This works fine but the main reason I personally have premium is to support the YouTubers I watch. Adblock gets rid of their revenue while premium pays them MORE than just ads do and now I don't have to worry about it on any platform.
Smart tube, or I've been told a pi hole works as well. I haven't bothered with that though, because I don't like watching YT on TV myself. Out of the two, the pi hole is probably the better option since it works with all your devices.
I also have No ads, because I use NewPipe. There I can watch all Videos from YouTube, cccBerlin, pearTube and it is also possible to Listen to Music from Bandcamp and Soundcloud.
Unless you're on an iPhone, setting up Revanced takes less than 10 minutes and very rarely breaks anything. If you want to support your YouTube creators, then sure pay for premium, but it baffles me how someone could have the technical prowess to set up a Lemmy account, but then balk at something like this. If anything, mobile might be one of the last frontiers now that they're starting a war against adblock.