As someone who rejects third party cookies it would be very helpful to know what is behind this cookie badge without having to accept cookies.
For youtube and known cookies it could say To view this "youtube" content, we will need your consent.
Alternatively there is youtube-nocookie.com which should be used on websites to load video previews without setting cookies. Though not all videos allow watching them like this. This would also defeat the purpose of protecting the user from third party "beacons", as youtube-nocookie.com could be ultimately used as a third-party web beacon.