I assume they get "monetization" from Youtube and they don't need to worry about hosting or discovery. Probably better than doing nothing with these films.
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I'm also a little surprised no one has yet (AFAIK) done the "viral indie release to Youtube" path. I feel like it's sitting there waiting to be exploited.
It’s a Wonderful Life is popular because the copyright expired and TV stations could play it for free. Playing it so much got people to watch, and now it’s a classic. It bombed originally.
Putting old movies on YouTube gives them a chance at a second life, and the studio doing it, means they can still earn some money on something that would otherwise just sit in a vault somewhere.