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You're going from a simple CMS to video hosting is like saying why ride a bicycle when you can build a lamborghini from scratch. Sure some people have the bank roll to try and launch a youtube, very few, but everyone can afford to spin up a wordpress or some other sort of CMS on a one click host.

Slightly better discoverability and easier “subscriptions” are the main values of Medium for me. I find syndication ok at attracting readers to specific posts but not great at getting people to keep coming back (even with rss available).

It's called syndication. You still own your stuff and still get the exposure.

Very little risk.