Re: Not quite
So you can't monetise the third party material? Seems sensible as a lot of the content blocks are bogus - and where legitimate why wouldn't you take it down. If you feel that a particular channel (say a hour long show that uses your track as a jingle owes you money - which they would you can block the channel and make a contract with each other so that they have the right to use your music, by I don't know, paying you for it.)
So it doesn't sound particularly evil at all. Content block everything, set up private agreements where you feel it's worth while, don't where you don't. No particularly reason to subside off of the ad revenue. And if the third party decides to cut the segment with your IP then fairs fair, but if you really think they used your shit you can then go on to DMCA them and take legal action to gain fair payment.