TikTok is doing this. Using the same playbook as YT (paying creators for views) and they're creating a unique moat by building great tools for creators. iMovie may have helped YT get started by giving everyone an easy tool for video making, and TT is bringing comparable tools in-house.
They're also avoiding the issue of letting creators get too big and dictating the platform like some think started happening to youtube, because the algo pushes smaller creators and doesn't put focus on who you follow. This really shows their Chinese heritage (CCP wouldn't want individuals to have too much influence without being replaceable).
Also, i've seen some large youtubers or youtube catagories try to band together to make apps/sites that offer that content without YT influence. (eg. some tech reviewers, or some niche content like relaxation videos or meditation guides). If i were more entrepreneurial i'd throw my hat in this space and use Cloudflare's new hosting to lower costs.