I think there is some middle ground. It costs very little to host a blog or a static website. If you want to add video to such a site, things change completely, and the main option for most people is youtube. So if you add the ability to self host video with some reasonable pricing (i.e., something without nasty surprises if your video goes viral), it could work.
The blog will probably stay on embedded YouTube, where the content might even generate some long tail coin if successful. This seems to aim a little higher:
If YouTube is the home tape deck of video streaming and Netflix/Amazon are the major record labels, cloudflare would provide record pressing and distribution services to indie labels. (Do millennials even understand those terms?) The ideal customer would probably be a smaller Disney competitor who wants to try their luck at selling directly but understands very well that they can't hire a team of engineers matching that at Netflix.