As a professional YouTuber, the main issue I instantly see with this is the lack of monetization. I think people who don't make videos for a living severely underestimate how expensive it is to produce high-quality videos people want to watch. This isn't like writing a tweet or even posting a picture on Instagram. Even a decent 20-minute video can easily take 40 man-hours of high-skilled labor. I have a pretty small…
The Youtube experience has always sucked for me - right from the first year Youtube launched. I just don't like the interface, web site, layout, etc. It's why I didn't have a Youtube account until I needed to share a video with someone, and even then, I never log into it (so I don't follow[1], rate, etc).
And then over the last few years, the ad situation has gotten astronomically worse. I'm not exaggerating when I say that old school cable TV with its ads was a significantly better experience.
I do a search for something specific. I start clicking videos to see if it has the content I want. But very often, on my Roku or similar device, I won't be able to see anything of the video unless I watch 15-60s of ads.
Only to find out the video is not useful for me. Click next video. Repeat the pain.
I think this is what leads a lot of people to just plain hate Youtube. It's what leads me not to care if suddenly no one can make money on Youtube (even the folks I like). It's why I want Youtube to just die.
If they made the site much more pleasing, and found a way to allow 3rd party interfaces (while still serving ads), and weren't anywhere near as annoying with the ads, I'd like the platform.
Regarding monetization: For the folks who have well established viewers, and who make most of their money via embedded ads in the video, I don't think they'll lose anything by switching to Peertube - as long as the Peertube infrastructure can handle the load. The major fans will know where to find the content.[2]
The real problem with Peertube is discovery. How can a new content creator be noticed? And then how can they show accurate viewership numbers to get those sponsors?
[1] Well, I may follow via other means: Manually, or via RSS, etc.
[2] Incidentally, some of the "popular" content I watch on Youtube exclusively gets monetized via embedded ads. Youtube demonetized that whole category a while ago. So embedded ads is totally viable.