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[@MviluUatusun](/images/2950980#comment_10600810)
A lot of the confusion comes from late medieval printers not having type characters for the three most common Old English letters still used in Middle English (thorn, eth and yogh) and substituting random Roman alphabet letters they did have in their set. "Ye" is a valid Middle English word, pronounced like it looks, basically a precursor of 'y'all' - but "ye olde" etc. is unrelated, a legacy of printers using y when they didn't have a letter for thorn to make "The", and confusion with the actual word "ye" led to people pronouncing it "yee old" instead of "the old".
A lot of the confusion comes from late medieval printers not having type characters for the three most common Old English letters still used in Middle English (thorn, eth and yogh) and substituting random Roman alphabet letters they did have in their set. "Ye" is a valid Middle English word, pronounced like it looks, basically a precursor of 'y'all' - but "ye olde" etc. is unrelated, a legacy of printers using y when they didn't have a letter for thorn to make "The", and confusion with the actual word "ye" led to people pronouncing it "yee old" instead of "the old".