It does seem a bit out of proportion, News Corp bought a business that proceeded to sink.

I think Peertube and other Fediverse stacks like Mastodon, Pleroma, Pixelfed & Lemmy will continue to bleed users from more traditional sites over the next few years. They've significantly lowered the barriers to running your own social site, creating a great variety of communities that otherwise would be much smaller or non-existent.

Yes, MySpace wasn't making any money if I recall and so had no real business plan. Sounds like the same like the guy complaining. They don't have real business plans to make money except an exit strategy to sell it to someone else. Their revenue was going to come from adsense? And he's complaining about google cutting him off. He should have been thinking how to make money, like his own adsense.