Decentralization of hosting responsibilities would certainly help bring down costs which is usually what makes it hard to make a competing hosting site. Then again any popular website _is_ going to need to go beyond standard protocol practices and try to censor certain illegal content.

We could just change our culture to be satisfied with 720p content and use traditional websites that don't use p2p tech. Like, we could all just start using bilibili.com or some other chinese competitors instead of youtube.