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Inside the 'arms race' between YouTube and ad blockers
(www.engadget.com)
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None of the three items I mentioned involved scale. Two of them mentioned cost to host and one mentioned advertising the creators' work.
The CEO of Nebula has explicitly stated he isn't creating a YouTube competitor. Nebula has a paywall which is important to its business model. It could never afford self hosting for free.
Even if PeerTube solves the hosting cost problem, you still have two advantages that a YouTube like system has over a PeerTube like system.