The actual videos that I store locally are in RAIDZ6, replicated using ZFS snapshots to two local online copies, with a third copy every night pushing data up to an Amazon S3 Glacier Deep Archive vault :)
My configuration, in case anyone's interested: https://github.com/geerlingguy/arm-nas
What you really need is to be able to trivially publish videos to something like IPFS, and have a large contingent of folks out there using convenient local video apps so there's a market for the content. I could imagine something like "community indexes" (perhaps a spiritual descendant of Usenet) to help find content, playlists, etc. and handle recommendation ML stuff locally.
If we had been a little more wise and avoided the walled gardens of social networks in favour of identi.ca or GNU social etc. aeons ago, we would be in a better state now in many ways.
In the early days of the internet, people would host servers out of a university lab or their home for fun or to give back to the community. This didn't scale as more people came online. There were too many people and too few hosts. Protocols moved slower than product development. People needed to download apps (and this was before app stores). So the corporate web won.
Once it gets more traffic, you get more bots, more AI tools pulling all the content, more botnets and DDoS attempts, eventually have to deal with governments and DMCA...
It's tough :(