I like PeerTube, but the really important part of the puzzle is the advertiser network. What makes YouTube special is that Google takes care of the advertising side of things and makes it easy for people to monetise. If Silicon Valley continues to drift into ideological activism, at some point a hugely profitable opportunity to set up a new advertising network develops.
If it is not moderated, it will just be filled with spam, porn, and insane rambling.
If it is moderated it can be attacked and/or controlled.
It's a lose/lose situation.