In fact FreddieW has raised over $270K on kick-starter for to create a movie, all donated from his fans.
Now, beyond just the individual YouTube channel owners, there are currently (start-up) studios that professionally manage and assist YouTube channels (for a cut of course). Some of these start-ups are http://machinima.com/, http://makerstudios.com/, cloudmedia, http://fullscreen.net/ http://www.thecollective-la.com/ http://break.com/
All of these companies, either have millions of dollars or have raised millions of dollars. Now they are currently in a land grab for all the top YouTube channels, because if you control the top YouTube channels you control distribution. And currently top YouTubers are some of the only people on the web, that can effectively and consistently distribute to millions of fans.
My point is this, innovative people are already challenging hollywood and are off to a great start. In my opinion, if someone is serious about killing Hollywood they need to first study whats already out there and figure out how to work with the people who have already made some serious progress!