underlying technology doesn't materialize out of thin air though. Google and Facebook have invested lots of dollars and engineering hours into making Youtube or Whatsapp video a seamless smooth experience for billions of users. That's why the technology seems cheap now. Early on, there were big concerns about Youtube profitability.
> it's that even cheap phones are absurdly powerful
Again, thanks to Android which was funded indirectly by ads.
> c.f. bittorrent
That is plain old theft.
> And some of those problems (e.g. content moderation, discovery) don't exist when self-publishing or curating partners.
Curating partners have economies of scale. That's how you get Youtube. And for self publishing, you can see that most of the "self publishers" on internet are at the mercy of adtech giants (Google and Facebook) for distribution.
> destroying competition from companies that just want to fairly offer a service
That's why I cite Youtube premium. Google offered an ad-free option at a fair price and yet hardly anyone wants to pay for that.