That sounds an excellent idea! In fact, it sounds so excellent, it's already built, deployed, and used by millions, under the domain name vimeo.com .
However, the business problem raised by mooism2 -specifically, revenue streams, and covering costs - have visible consequences, in that the vast majority of content producers would opt not to pay for distribution of their content.
Also note, that youtube was never built to generate revenue -it was specifically built to flop to one of the big players.
In short, to consider this as an opportunity, you need to radically innovate on extracting alternative revenue streams from viewers, producers, or third parties.
