The thing with traditional media is that it's all about limits and compromise and trying to appeal to the lowest common denominator. The TV and radio airwaves are limited, as is the schedule. Cinemas and screening times are limited. Shops selling books are limited. Etc.
So what you get is very generic and milquetoast. It's bland content aimed at a large audience that (presumably) doesn't want to think too hard or leave their comfort zone, which is designed to appeal to every possible region on Earth at the same time and which doesn't scare away corporate types that see anything outside of a few specific genres as too risky to deal with.
Much of what's on YouTube isn't like that. Yeah, there are censorship issues and other such problems, but many of the videos and channels there are as niche as niche can be, and all the better because of it. You don't need to care if your videos appeal to 300 million people in the US or are understandable to a few billion worldwide, you just need to care that an audience that wants that sort of content can discover them and find value from it.
Almost every commenter on this site watches something different on YouTube, often about topics that appeal to only a tiny percentage of the population. Platforms like YouTube can support that, traditional media companies can't.
The cumulative impact of all those different channels and creators is bigger than any small library of mass market works could ever be.