An alternative to centralized video sharing is definitely needed and PeerTube looks interesting.

Discoverability is one of the things that makes YouTube so compelling. Unfortunately, it doesn't look like PeerTube offers much on this front at the moment.

There's a search app:

https://sepiasearch.org/

But there's nothing like the recommendations or related video feature of YouTube. How hard would that be to add given PeerTube's architecture?

edit: I just discovered that that GitHub page does a much better job than the landing page of explaining PeerTube. In particular, it breaks down features from the perspective of users, creators, and admins. It even leads with an introductory video (but not embedded for some reason).

https://github.com/Chocobozzz/PeerTube