If I upload the latest episode of Game Of Thrones do Dtube and monetise it to illegally earn Steem, I think I should expect HBO to file a DMCA complaint, and I am pretty sure @dtube would remove my content immediately ('censorship').
As for whether Steemit will or even can demonetise me for being caught, I don't know about that. They're probably too busy having yacht parties :D
But for genuine content creators, this could be a sanctuary away from unfair takedowns, demonitisation and account blocking. It might be interesting to see how flagging / downvoting affects Dtube videos. I like the idea that viewers can help hastag Dtube videos and that the more viewers a video gets, the more accurate its tags truly become, from a community perspective.