I swear, marriage would be easier dealt with if both parties opted to incorporate a business, and put their relevant assets in the name of the corporation. Then at least separation would be pretty clean cut and dry. The Irony is - this is basically what marriage is.
Ok: PeerTube is interesting. But: in terms of replacement? No. non-viable.
The problem you have is multifold - and one of them is constant content availability, and total bandwidth. The value of Youtube is on demand streaming - you click a video, it plays, basically anywhere in the world. The other value is… copyright: Because of the way youtube is set up, you don’t have the same kind of copyright problems as you would without the back end negotiating and systems youtube as put in place. You can think copyright as it stands is oppresive and sucks -and I agree; but with the law the way it is - youtube is the best work around that is feasibly possible.
Mirroring all of youtube needs piles of terrabytes of new storage DAILY. and it’s in the hundreds of thousands as a low end estimate. You need the computational power to do the transcoding. You need the distribution of servers to load balance and avoid over saturating and d-dossing any given server cluster.
The reality is the Torrent protocol has been around forever - and there is a reason it never really took off, despite live watching while streaming was feasible: It has too many pitfalls.
And then, there is the content creator side: If you want to make money - youutube is kind of the place to put your content up with youtube premium sharing, ad revenue sharing and so on once you can monetize your channel. And while there are all kinds of BS in regards to what can and can’t be monetized - there really isn’t a replacement, not for the average person just getting started - and not if you are trying to build your following.