Youtube doesn't really have a monopoly on the business of serving video. What they do have a monopoly on is the ability to get 100's of thousands of people to be directed to your video even if you yourself only do a fraction of the work required. This combination of technology and the audience is what makes Youtube so powerful.

But if you are claiming ownership of revenues then you are indirectly claiming ownership of that audience and this is a giant mistake. After all, hosting some video is trivial, getting that audience to your self hosted content is the hard part.

So if you take part in an ecosystem like that then you will have to (1) abide by the rules and (2) take into account that you serve at the pleasure of others. Failure to do so is going to result in a rude reminder of what your position really is: one of dependence.