You don’t need to be a regular user, but you need to get something on there that gets lots of hits.
I didn’t have the option ‘til I posted a couple ‘how to’s’ on motorcycle mechanics. Once those got somewhere around a thousand views, I got an email from youtube asking me if I wanted to monetize.
Since then, I’ve had the option to monetize anything I upload.
However in order to make money, people actually HAVE TO CLICK THE COMMERCIAL LINK that you are agreeing to allow them to place before your vid. And COME ON. . . you know no one cares to do that when they want to watch a video.
I’ve had a few thousand views over my monetized vids so far, and I haven’t made a red cent. . . or a cent of any color for that matter.