The YouTube team has just done a phenomenal job scaling to demand and building a simple, no-frills-attached platform.
What does YouTube fail on that we need an alternative for? Fast download speeds, speedy uploads, many ads that YOU CAN JUST SKIP (!!), it seems like they have nailed the perfect spec and product. Plus, I don't think many could even dream of competing with the technical demands that YouTube probably sees every minute on their servers.