> Hard to understand why no company has directly taken on YouTube

Up until recent history, it was a money losing business. I’m sure that’s turned around now but mainly through heavily injecting ads. It would be difficult to disrupt them because of the network effects of all the content, viewers, and creators. And it would be hard to compete on price (whether subscription cost or amount of ads) without having the kind of infrastructure Google has.

It might be done in the future, but it will be anything but easy.