Yeah. Essentially, YouTube is all but a natural monopoly given today's legal and technical environment. Unfortunately, it doesn't get the oversight that natural monopolies are supposed to have to prevent abuses like these.
That’s my take as well: regulation and liability for errors are the most realistic way to fix this. Even if ISPs were required to offer symmetric bandwidth I don’t see anywhere near enough people even being interested in serving other people’s content to make P2P work, which makes me feel old for remembering how cool the BitTorrent launch seemed before I understood the social aspects of the problem.