I agree. They make it look lucky because they executed so well. Good entrepreneurs have a habit of making it look easy to outsiders (Zuck was lucky because he was at Harvard and had the right connections, etc.)
There is a new problem of this type at reddit and other sites if somebody wants a project idea to work on. The problem is animated GIF's. At the moment most animated GIF's are too large, not optimized and the sites are slow.
This has been a constant long-term complain on some of the sports subs that I frequent that post highlights from games. You press the button to display the animated GIF inline and it loads a couple of frames a second and takes 10-30x the GIF length to load. There are two factors here:
1. A lot of people don't know how to optimize animated GIF's. You don't need 24 or 30 frames per second where 8 will suffice, and you don't need full image quality on mobiles or tablets, or even on desktops. You can cut down the frame rate automatically and scale up the compression for some clients to load faster.
2. A lot of the regular hosts are overloaded and slow.
A service idea for animated GIF's would be to specify a video to cut from then have the service automatically create and load desktop, mobile and tablet versions with low frame rates and hosted from a decent CDN. The regular posters are now using Google+ since it loads, but they haven't solved the optimization part.
You don't have to spend a lot of time online to see and identify these pain points, you just have to be in the right mindset where you notice them and can identify the opportunity.
edit: If anybody wants to do this, email me (in profile) and i'll send you my notes. It is something that I considered putting together but I don't have the time. I did do some research though (i'm a mod at some sports subs). If you serve optimized versions for different devices then that would be a good reason to get submissions linking to an HTML page rather than hot-linking to an image.
Pipeline would be:
upload video -> convert to 3 optimized version -> visitor lands on your HTML page -> serve version based on UA
running these services isn't as expensive as what it used to be, CND's are now cheap. imgur is profitable with 12 staff and running on AWS, with no ads.