It also takes PeerTube instances further away from being able to P2P without too many extra steps other than a shared infohash (and DHT). Video re-upload conflicts with such immutable solutions, but that's more of a positive. (Did you know the Crazy Frog uploaded years ago was VERY recently silently replaced with a different cut? https://youtu.be/k85mRPqvMbE?t=75 vs. https://hobune.stream/videos/k85mRPqvMbE) Reuploads should be reuploads, old versions should be separate.
As a third order effect, it also makes it even more impossible to generate and find interoperable YouTube archives based on the same source. Archival and mirroring efforts all disjoint and duplicated.