Youtube semi-regularly screws up in ways that makes the creators fear for their channel and audience, and makes them evaluate alternatives. The "problem" is that youtube never really screws up on the content consumer side, so viewers have little reason to ever go to any of these altnernatives (unless it's paid bonus content on patreon).
Though I guess I could see some channels that are too heavily restricted on youtube using peertube as a repository of all videos, and youtube for the videos that youtube currently deems acceptable enough.
Just like with Mastodon created because of the 2013 Twitter APIpocalypse, YouTube have been screwing things up big for at least 14 years now, and PeerTube as it exists now is at least partially the result of those actions :
I doesn't matter much since there is no money involved in alternatives.
Google pays for content creators. A lot.
Decentralisation is likely removing all compensations and people stop pushing content for money.
I'm 100% convinced that NOTHING of significant value would be lost if the revenue that Youtube pays directly were to go away. It would be a rough transition period, but pure-ads just doesn't make anything good. Patreon-style is ideal, but Netflix is fine too.
Though I guess I could see some channels that are too heavily restricted on youtube using peertube as a repository of all videos, and youtube for the videos that youtube currently deems acceptable enough.