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I have been using Nebula for years and it has replaced most of my use of YouTube. Whether it is worth it for you or not depends on what you watch. You can see what content is on Nebula without subscribing to get an idea of what is there.
The biggest problem I have with Nebula is that it is advertised as a “creator owned” company, but that is not actually the case. Here is a blogpost that goes into more detail about that. That being said, from what I am aware of, Nebula still pays creators more than YouTube per view. I just wish they were more transparent about their business.
This is exactly the information I was looking for.
It seemed like the key points from the medium post were:
Nebula creators don't actually own any of the company, but are promised a portion if the company is ever sold.
They are likely funded by venture capitalists, and are masquerading as a form of co-op
The sales pitch to subscribers is disingenuous because content creators are claiming to have 50% ownership, when they actually have 0%
I think you summed it up well. According to that post, they are a better option than YouTube, are friendlier to content creators, but are in serious lack of transparency