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I read in a different post that the code was misinterpreted to be a 5 second sleep before showing the video, but instead was waiting 5 seconds to execute some anti-ad-block script. Still pretty sleazy either way.
There's a video going around of a guy using a useragent spoofer to prove that it only does this on non-Chromium browsers. So I don't think it's necessarily anti-adblock, but it could be interpreted that way when you consider Google's plans to implement DRM in Chromium.
Had a look at Louise Rossmans video yesterday about this and from what he showed he got it on all browsers.
Here is an alternative Piped link(s):
https://piped.video/_x7NSw0Irc0?si=My5Nurw4XqdjDH8l
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I'm open-source; check me out at GitHub.
When I went rooting around to find it. I figured it was some QA process that starts 5 seconds after the video loads (the timer seems to be async and the code sends a promise off while it waits). Of course, it's all minified JS so it's a huge pain to read.