Agree with timcederman. Pre-Google buyout, there were and still are tons of video hosting/sharing startups. BUT, why did YouTube ultimately take off and get purchased by Google? They did something different/better than everyone else.

In YouTube's case, I argue that they knew how to market themselves. Don't discredit your positioning and target audience. Write a kickass app tailored to what they specifically need. And hey, if it's another video app, how is your version better or more niche than YouTube?