That's my stance as well. I'm usually all for bashing Google and other GAFAs, but here the service they offer is pretty incredible and I can't imagine any serious competition managing to offer the same features with the same conditions.

They're hosting petabytes upon petabytes of videos, transcoded to work anywhere, forever, for free. And you can even get a share of the ad revenue. I can't imagine how I would even begin to develop a competing website, I'd be drowned in hosting fees before I even make a dent in Youtube's user share.