As far as I know piped gets the video from youtube and serves it to you so that youtube only sees traffic coming from the piped instance you are using. Using adblockers would give you the same benefits as using piped except for the anonymity. As long as tor gives you a good video quality, it is a better option than the frontend because you don't have a piped instance knowing your traffic.
I don't like my traffic being fingerprinted by youtube but can't handle the slow tor connections so I ended up using a frontend for youtube. The one I use is called Invidious.