Earlier quoted context omitted.
The claim was not that video needs to be hosted but that video hosting is expensive. It's not, because we can easily distribute the cost now.
How do we distribute the cost? Say a popular creator uploads a video to a peertube instance and gets 10 million views, the video is 10 minutes and 15mbps bitrate, that's roughly 10 petabytes of data the peertube server needs to send. If we take say, Vultr as an example for outgoing data costs, that's something like $100,000 of data for a single video. Yes P2P will take some of that load off, but not that much with ho…
I'm not really sure what you didn't understand about distributing the video and cost.