Yeah I agree the Youtube ones are not very good, I am not sure what they have implemented behind the scenes for it. However this uses the Whisper Large model which is quite a bit better than the Youtube auto generated ones. Only catch is you need to have the video on disk and wait a bit longer lol
Youtube is very bad, but I have honestly not yet seen anyone implement this well on any platform, which indicates to me that it's not a solved problem. Very open to being proven wrong here though - do you have examples of Whisper Large in use in a large consumable sample?
It's not fully solved, there are still errors but its improved a lot the past few years especially compared to Youtube. The best approximation is the Whisper models atm as far as I have seen. There is a write up here on hugging face which talks more about the models and the benchmarks against it.
https://huggingface.co/openai/whisper-large-v3