Depends on what you mean by wipe.
If you are talking about using JL_CMDER or something, yes, you could be talking about completely removing the device software.
If you are talking about a security wipe from the device options, you can choose to delete only data and leave all third-party apps.
But let's talk about the problem with youtube before you do anything. Are you using the m.youtube.com site? What browser are you using? What trouble-shooting have you done so far?