Huge difference between a brand likey Disney able to pull off a streaming service and smaller producers. Smaller producers need demand, and for video demand = youtube.
For instance, let’s say I’m a comedian and have a thousand loyal followers. Why couldn’t I just pay $20/month for a PeerTube hosting service with my own brand. Then I can just tweet out the links.
Why would I need YouTube?
As another example, let’s say I’m a white supremacist, and I have a hundred followers. I can email a link out to them and never worry about censorship by YouTube.
So demand can be small, and it still works. In fact, since I now have more control over the experience, it can be much more tailored than youtube.