To be fair, YouTube is under no obligation to some greater good; it's just a video hosting service. Expecting it to "preserve footage" and any footage at that, is a strange expectation.
Eeeeeeeeeeh....I don't know about that.
Lots of corporations today target "owning" a certain aspect of humanity. Facebook "owns social", Google "owns search", and LinkedIn is having a jolly good swing at "owning recruitment". Youtube wanted to "own video" and by and large it has succeeded. I'm not sure they get to have that position consequence free though.
I'm increasingly of the opinion that companies that manage to pin an entire market implicitly take on a social responsibility, and lots of them are not shouldering it appropriately.