If Google was losing money on youtube they wouldn't pay out billions a year to video creators in the face of zero competition.
And the network effects of youtube will ensure that this continues to be the case. Content creators aren't organised, so a mass exodus won't happen.
The trick to find the niche and be 10x better than youtube for that niche and then expand from there.
[1] https://techcrunch.com/2018/04/26/twitch-solidifies-its-lead...
Many such platforms exist; starting a new one from scratch without monetization scale would be difficult, but certainly not impossible. The real expense when scaling would seem to me to be moderation of illegal content actually, since you have to pay people for that.
IPFS does static content and Cloudflare does a free IPFS gateway.
https://blog.cloudflare.com/distributed-web-gateway/
https://github.com/ipfs/js-ipfs/blob/master/examples/browser...
Recoding seems like a candidate for distributed computing, and a way for fans to support creators.
The big problem is discovery. A lot of people are wondering about decentralised server networks with an open discovery/search system built on top.
That's a horrendously hard project for social as well as technical reasons. But it's badly needed to drag the web out of the corporate swamp it's currently drowning in.
The total bandwidth for one of these creators’ videos is not itself all that massive. Particularly if you are not live streaming, a few thousand dollars in hosting costs a year to get 100TB/mo dedicated servers in a couple datacenters.
But once you have the servers humming and serving a few million views a month, whose ads are you running alongside your content?
[1] Although a kind of specialized one with a lot simpler scaling characteristics compared to a YouTube replacement.