YouTube is video first.

I think TikTok is winning because their objective algorithm optimizes for a different outcome.

Facebook and YouTube optimize for time spent on the site. Youtube famously cut ad revenue for content that is watched for fewer than 10 minutes. They both make decisions based on what will increase time spent on the site, thinking that's the best way to sell ads.

TikTok optimizes for content that people love by giving the most reach to items that commenters buy gifts for. This has the side effect of making content that consumers really connect with get paid the most. There is a big difference between what people love and what makes people spend a lot of their time.