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So we have decentralised versions or Twitter, Reddit and YouTube? What a great time this is.
Meh, decentralized youtube alternatives have practically nothing interesting.
Social media and forums, I can see them getting replaced. Social media and forums are about the people, powered by discussion amongst peers. Decentralized Social platforms will thrive if there's enough people. A video platform? Videos take a lot more effort and only a small percentage of users are really "content creators". These content creators typically want to get paid for so much effort they put in to the videos, so it's really unlikely a decentralized platform can provide adequate compensation. Youtube ain't going away anytime soon whether you like it or not.
TLDR; Video Platforms =/= Social medias and Forums.
On the other hand, more and more video creators on YouTube make the bulk of their money off of Patreon, rather than YouTube ads, and if it were possible to increase their Patreon subscriptions by posting to PeerTube as well as YouTube, interesting things could happen.
That would really surface the cost of video hosting, though
Most Podcasts live off of Patreon and no compensation from hosting services. And still they are out there. I don't see the difference to videos. The only thing youtube has over peertube is visibility. But one can argue peertube in combination with some other fediverse service like Mastodon or Lemmy can fix this and give you more visibility for your videos.
Interesting, what are your thoughts on the 'piped' youtube front end that I've been seeing on here?
That is still Youtube. Google can take down videos they don't like. The point of decentralization is to spread power so that no single entity can censor anything. (Although, collectively, they can still stop unwanted content, such as hate speech, but not something that one instance admin can do. People can always repost to another instance.) Using a front-end to access Youtube doesn't not change the fact that Google is still in control. I mean, I could use Firefox + uBlock Origin + a VPN to browse Youtube and achieve the same thing as whatever front-end you use.