>I fear we are centralizing too much power into a few private companies that effectively wield more power than the government and the people for whom it represents.

Youtube is not more powerful than the government. The government has the power to create laws, levy taxes, raise an army and wage war, arrest, detain, torture and kill. Youtube only has the power to control speech on its own platform, governments have the power to do so across entire societies, and to enforce that will on businesses subject to their laws.

You can say the same about any social media platform - none of them are governments, nor are any more powerful than governments. This kind of hyperbole only undermines the strength of your argument.