Content means absolutely fuck all if it can't reach its audience. Youtube hosts, encodes, streams, distributes, and circulates the content and has recommendation algorithms to increase the productivity of every public video published on the platform. It was lucky that it was a first mover and gained the momentum that it continues to enjoy from its massive user base, but a massive user base means fuck all if you can't deliver a product that they want to use... and Youtube as a platform means absolutely fuck all if people don't create and share videos.

If you want to argue that Youtube takes too much of a cut because of their position as a natural monopoly in the long form video content market, you might have a reasonable argument. To say that Youtube as a platform does not provide value to both its creators and its regular users is simply asinine.