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Google admits it's making YouTube worse for ad block users
(www.theregister.com)
This is a most excellent place for technology news and articles.
I feel like people mistake YouTube for a video hosting solution.
But that's not the point.
So, if the only thing you're looking for is a video hosting solution, then, yes, PeerTube might be an alternative. In the same way uploading videos to your own webspace would be, and Vimeo also still exists.
But for all the other stuff, YT is, unfortunately, unmatched, and probably will be for a while ...
You're right. It also got people and ai flagging illegal content. That takes much more money then even hosting videos does. Though if the .world owners want to make a peertube insurance, I'm all for subscripting.
Once again, I want to agree that it's a massive undertaking that's more than software and bandwidth.