Doubtful, the youtube-dl python library is used by thousands of people and sites to download youtube videos and while API changes break it often, I've never heard of anyone getting their IP banned or an associated account banned from using it.

Even though I have Youtube Red (through my google music subscription), I watch most of my Youtube videos through mpv which uses youtube-dl to download the videos. There are no ads and it requires no account to use yet I've seen no reports on their bug tracker of getting banned.