The competition does not have Googles’s ability and/or willingness to burn that much cash.

Apple or Facebook or Amazon or Microsoft have the cash, but obviously none of them see a sufficient likelihood of sufficient ROI.

I cannot blame anyone who does not want to start a YouTube competitor, the moderation costs alone must be insane.

But for video creators interested in sharing their work, they can do it without Google, and it has never been easier in the history of the world.