But you CAN view live video streams at numerous other places.
This is the difference that's glaringly obvious to everyone else, but somehow seems to escape you. DailyMotion exists. Twitch exists. Vimeo exists. Facebook video exists, and is actually larger than YouTube. (by megabyte stored.) Twitter video exists. Instagram video exists. Snapchat video exists. The list goes on and on.
You have to have a monopoly, to break up a monopoly. YouTube doesn't have a monopoly. You, presumably, just like their property more than Twitch or Instagram video or whatever. So you want to use YouTube.
Fine. I get that.
But that's a 'YOU' problem, not an 'US' problem.
Also, if you view YouTube as merely a video hosting service, you're completely missing the point. It's the second largest search engine on the web.