Well, not really. It's depressing that HN is being so credulous about this, but saying that Youtube is "blocking" or "removing" videos from indie labels that don't agree to the licensing fees is as accurate (or more) as saying that indie labels are blocking their videos from Youtube unless they give in to their demands for higher license fees. There's an ongoing negotiation over the license fees, and if indies decide that the value of having their videos up is high enough that it's worth it under the current license fees, there's nothing stopping them from accepting it.
To put it another way, if it's "VERY bad news" for them then they wouldn't let the negotiations get to the point where they pull their videos from Youtube.
