Sure, what I'm saying is there are good enough decentralized platforms (peertube is really good), but the problem is the illegal content that gets uploaded once they grow.

You get to a point where an admin can't curate everything, people get cute and hide stuff in the middle of innocuous videos, you have copyright claims to worry about, etc. That needs serious tech and centralized management to overcome (e.g. people having the ability to remove content). You have legal reporting implications, etc. It's that bit that sucks, not so much coming up with the platform.

So you'd need a more classical company with deep pockets that tries to take on YouTube by coming up with an alternative site that uses a similar model. I say deep pockets because a video hosting website is about the most taxing thing you can try to run on the Internet if you're serious about it.