More premium users means fewer ad slots to sell. Which should drive up the price of each ad spot. Or, as you suggest, they can cram more ads in per video, and risk repelling the audience. I wonder what the equilibrium point is.
Eventually they'll just start driving up the price of premium too to make up for the lost ad revenue. The equilibrium is probably that no one bothers to use it without a subscription, and the subscription is way overpriced.
No wonder Chrome has been cracking down even harder on ad blockers recently...
Cosmic Encounter [1] is my all time favorite. I think it works best with 5 or 6 players, which allows for lots of interactions and wacky card play. Some of the alien powers are better than others, which might seem unfair. But the fun is in assessing each situation and making the appropriate alliances, etc. to "balance" the game - hopefully to your own advantage, of course!
[1] Specifically the Mayfair edition from the 1990s, although I understand the current version is pretty similar.