That's also one reason spreadsheets are still so popular:
As an average corporate drone, you can either hack together something quickly over the weekend in Excel that will mostly work. Or you can wait 3+ months for your IT department to fail to deliver.
(And that's the best case scenario.)
The Google drive could be deprecated at any moment
At this point the advice is moving towards "Don't even have a video if you can't be bothered designing a CPU from scratch to host it on".
Keep a local backup by all means but it's far more likely the local copy will get lost than the google drive copy.
Obviously, if your website is running a complex stack this is fairly infeasible (good luck keeping a complex web-framework secure without vigilance!) But if it's just a static site... and static sites are the fair comparison to google drive.
The issue with google drive and similar products is that they're actively - very actively - maintained. Stuff doesn't just break because it's taken offline, but because there are changes in terms of service, there are automatic deactivations for inactivity, there are plain old incompatible upgrades, etc, etc, etc.
I mean - I totally support people starting with the minimal effort (which is surely some freemium service like google drive), and leaning to live with the limitations - but the risks of a server (whether physical or otherwise) if you're similarly conservative and willing to live within constraints not unlike hosting on drive seem overblown - people talk as if servers burn down all the time, and hackers crack everything, but nothing could be further from the truth - those are exceedingly rare circumstances. And for many things, those risk are just OK. Don't keep your only copy of the data on the box, and don't keep private stuff there, and if lighting really strikes - it's not so bad. And both strategies will need a little TLC once and a while, that's just the way it is.
You know that this requires some uncommon computer proficiency?
None of this is stuff the average company needs to deal with when youtube works just fine. I'm sure you can list out all the ways to avoid those listed problems but that just shows how much work and knowledge is needed to pull this off while anyone can use youtube.
That may be the best "free" way, but my company puts their training videos up on some training website. The site tracks which videos were watched and sends nag emails when required trainings are late.
So if you're putting up content that your employees are obligated to watch, there are better alternatives than Youtube.
Just because it’s worked for years doesn’t make it so forever.
The trust and reliance on Google for free video hosting seems both foolish and dangerous.
See https://en.wikipedia.org/wiki/The_Nature_of_the_Firm for a classic take on the subject.
I believe management consultants call that "efficiency."