Solid choice, IMO. And I think a lot of people agree, and have some type of setup similar to this. With one major, major caveat: live sports. Unless you can live with waiting (and hoping) for someone to put the game you care about up on YouTube, or if the game happens to be on OTA (lucky Notre Dame fans), you're outta luck.
YouTubeTV gives you access to networks like Fox Sports, FS1 and BTN. It is not about waiting for someone to put the game on Youtube you stream the station yourself. Same with HuluTV (which I have) these are cord cutting deals with a package of stations, local networks and DVR.