PeerTube is built to scale, the more users the better bandwidth because you stream from peers
Not to mention the long tail of less popular vidros.
PeerTube actually does have technical issues in there here and now, but the number one problem is just that YouTube is an excellent service preferred by both users and advertisers and PeerTube doesn't seem able to outdo it in any meaningful way.
By that logic, AWS free tier is a competitor to youtube.