Meta made a twitter clone when they had the chance, they’ll happily make a YouTube clone.
I don’t think Amazon or Microsoft are very interested in entering that market, but they are the only ones with the money and compute to support such a platform.
Maybe Netflix could be interested? But I doubt it
It’s like solar energy. You either absorb it with a panel, or it goes to “waste”. You’re not really stealing it from someone else, as long as you’re not getting too much in the way