That's because video hosting platforms aren't profitable. Anyone that's trying to do what youtube is doing will either have shortcomings or go bankrupt.

And the reality is there never will be anything that can meaningfully compete. Not anymore. Youtube has inertia. It’s not just that content creators get part of the advertising or that Youtube functionally advertises their channels based on related content algorithms. It’s also that youtube has over a decade of historical material. It’s the largest collection of video content in the history of the planet. Ever. By far. The age of “people are going to ditch your service for a competitor’s” is long gone. We are squarely in the age of the solid internet, which is ruled by a handful of very large, very powerful corporations, who do not really have to worry about “new competition,” because the scale of their operations is so vast, so well established as a part of the culture, and so astronomically expensive to maintain that nothing new could ever hope to compete.