Self hosting music is one thing, but it's hard to imagine self hosting video being a reasonable alternative to youtube any time soon. The bandwidth involved in delivering video should it become popular is far too expensive to justify the benefits over a hosted solution for the majority of purposes. A 10MB video (small) with 100,000 views (a modest number for a somewhat popular video) is a full terabyte of bandwidth. By AWS s3 pricing, that's 120 USD. It's possible that if you invest quite a bit of time into getting ads set up, their revenue could cover that cost, but on youtube, a video with 100,000 views and a fairly average level of advertising nets about 180 USD to the uploader, and they don't have to pay a cent for hosting it (except of course for a cut of their revenue).