For videos, we don't preserve the uploaded video for a variety of reasons, but the primary being that our intent is to support Internet-deliverable formats & filesizes. Customers regularly upload videos that vastly exceed Blu-ray bitrates (literally hundreds of megabits-per-second) that just aren't Internet-useful.
That's different from a JPEG, GIF, or PNG where the original file is Internet-useful, deliverable, and makes a meaningful difference. That file is very useful for sharing, which is what we do - we share.
We don't consider ourselves to be a backup service, and there are lots of great backup services out there to choose from that would love to take a 3GB 5 minute video. We take extraordinary care with our customers photos & videos, but we're a photo & video sharing service, not a backup service.