Its not enough to have a competitor. All of the features we have come to dislike about YouTube are a natural consequence of the pressures it faces. High volume implies moderation by machine along with all of the negative side-effects. Bandwidth, storage, and arithmetic costs imply advertisements with all of their negative side-effects. A large library implies a recommendation engine with all of its negative side-effects.

To be a viable long-term alternative, a competitor will have to break at least one of those fundamental constraints.