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It's not, because it's a lot easier to get someone willing to pay anything in the first place to pay more than it is to convert a free user into a paying one. So as long as a yearly rise doesn't lose them more in profit they'll keep increasing the price it until it does.
Though I really doubt that on a platform as huge as YouTube halving the cost to $7 wouldn't get them twice the paying customers almost instantly, because $14/month is simply ridiculously expensive.