Within niche areas of interest, there actually are communities between content creators. I've seen some neat collaborations. But I'd say there is no community at all in the comments.
Plus the dregs of the Google+ community. Look at the people commenting on the announcement - social media gurus, 'futurists', wannabe viral video producers...
The phrase "Youtube Community" makes me think of the sub-communities, such as the ARG communities - which use Youtube for video hosting, Patreon for funding, independent web forums (such as Unfiction) for data gathering, and apps (like Horror Amino) for community management.
Were Youtube to build feature parity to each of those sites, they might see more communities self-contained within Youtube.
Like Youtube (and just about every social website ever), size matters - bigger is better to a point of critical mass, then it's all downhill from there.