It does - I think the praise being sung was just that you don't need to know how to construct them. YouTube doesn't have a little orange rectangle "RSS" link to click, or anything.
At one point (when I first tried this) I'm pretty sure youtube didn't have a link to an rss feed in the source. I had grown used to going to source and searching for "rss" and "xml." However, I just checked and they definitely do have a link now!
Yeah, quite possible. You can construct the feed by some rules, mine are here: https://github.com/pipes-digital/pipes/blob/4243c9234ddab6a3... - but then you have to monitor whether it still works periodically. Being able to replace that by proper meta tags would be nice.
Using openrss.org as an intermediary might work as well, but not ideal to rely on a third party for that.