Will I have to connect my YouTube channel?

Short answer: No

The Video Management exclusive license will not affect your agreement with YouTube. The reason being is that we claim your video in YouTube on your behalf just so we can post it to our own channels. As it stands under YouTube's policy, only one account can manage a video at a time, so for us to be able to post it to our channels we need to claim your channel’s copy of the video as well. Keep in mind the video remains in your channel, but we will try to maximize its reach by posting it in other channels as well. One of the benefits of this license is that we have Content ID access, so we're able to represent you and take down unauthorized/stolen copies of your videos made by other YouTube users.
If you want to take part in the discussions click the Connect in the top right!