Second, “if Google can’t make it work no one can” is also a myth. YouTube, even the idea of which came after Google video was already launched, is a good example of that.
And, of course, Google+…
It’s not impossible to make a video streaming platform profitable, but it definitely is hard and it likely isn’t possible with arbitrary unlimited free uploads.
So 9.79/365*4 = 11 cents per hour of video.
I dunno what you need to profit from 1h of video.
Basically you're lucky to get ad revenue of 10c per hour.
As a guy who builds big streaming services, I can definitely say profitability is a very hard thing to achieve. Even as compute costs go down, demand for features goes up and long-tail archive costs mount.