PeerTube looks quite promising with its decentralised model. Surely it will never be perfect. But decentralisation is essencial. Also because the types of videos I like to see in YouTube either are monetised by themselfs in some way. Or are not monetised at all. YouTube does not seem necessary for those creators.
Been using PeerTube on and off for about a year now, been planning on starting a maths education channel on Trom. It’s definitely got potential, but I don’t see the average Youtube user migrating over to it any time soon. The main issue really is that children/young teens are a large portion of the target audience for a lot of big creators these days and the mobile apps for peertube are heavily lacking still. Not helped of course by the fact that one of the better android apps, NewPipe, which allows both YouTube and PeerTube in one place is not on the Play Store