Didn't torrents solve this problem before Youtube was even invented? Also, it looks like Bilibili is going to expand internationally and they have a pretty good chance of eating Youtube's lunch.
I’m less familiar with bilibili, but afaik it doesn’t do many of the revenue-sharing programs that YouTube does, so might have trouble attracting the same creators. They also have so far been pretty regional and so I’m not sure if we can use them as a sign of success yet.