In the recent past (say up to the mid 2010s) it was a really good product and there was a reason nobody gave a shit about Vimeo et al, YouTube as a site, app, platform was so far ahead of the competition.
But now? Youtube is full of slop, search barely works, and Google is on an endless campaign to make ad-blocking and free downloading impossible. Even most of the "good" channels resort to clickbait titles, thumbnails designed for children, and embarrassing shilling.
Meanwhile hosting and streaming HD video is a mundanely easy feature to implement with off-the-shelf/FOSS software, hundreds of no-name, fly-by-night websites have HD video hosting. Maybe it's time for someone to make a mastodon equivalent for youtube.