If I had Facebook money, I'd use Peertube to create a clone of Youtube with the Internet Archive as the storage backend of last resort ($2/GB for perpetual storage). Trust and Safety team to keep the stuff out that could cause you to lose your safe harbor. Cloudflare for new, high demand content, serve from the datacenter long tail. Plug into ActivityPub, Wordpress, Mastodon, etc. Not quite Wikipedia for video, but similar governance and operating spirit.