This is why I download and archive locally things I enjoy repeatedly and find significant. If I remember something I once loved or laughed hysterically at back in the old days, I use yt-dlp to download it because I know someday it'll get erased and a shrinking minority of people will even remember what it was.
To me, it's about personal culture. There are videos and other online content that became an institution in my young brain, but inevitably faded into irrelevance, eventually disappearing entirely in some cases. If I remember a piece of media but find that it's been lost for good, it's like I've lost a small part of myself.
In any case, I definitely recommend creating a personal archive. I agree that the Internet Archive is an amazing thing and that we are blessed to have it, but clearly not everything has an obvious place on it and I think it's only a matter of time before the Cathedral, if you will, recognizes its existence and subverts or destroys it.