Read the story of vid.me, YouTube's only ever credible competitor.

There is also nebula and curiosity stream, which also illustrate my point. Both solid good services with <1% conversion rates.

There is no better service than YouTube while using an ad-blocker, and no amount of "awesome new platform" can break that. Most people's response to "YouTube sucks" is to ad-block on YouTube, not go to a competitor(and pay/view ads). It totally breaks the market and ultimately makes things shitty. That debt must be repaid somewhere.