There's been enough creators that have had enough problems with YouTube that maybe something could happen. I'm not putting money on it or anything but it wouldn't be that crazy.
Artists, techies, and socialists need to come together. To build a platform focused on sustainability ultimately. Devoid of profit for the sake of profit. And more focused on meeting the needs of their members. No overpriced CEO or board of directors. Or layers of redundant management. Once the service costs are covered. Anything after that could be split somewhat proportionally within strict limits.
A lot of the basic pieces are in place. Torrenting/peer tube for distribution. Modern day royalty free codecs. Realistically the two biggest hurdles are how to monetize responsibly, and bringing people in. It's something that in one shape or form will always require some small donation of time and resources. And it's easier to convince someone to join a Ponzi scheme telling them you will make them wealthy. Than it is to get someone to join guaranteeing that you'll never make them wealthy but you will try to make them secure in their lives.
Benn Jordan, perhaps better known as "The Flashbulb" as an EDM artist, has an excellent YouTube channel. This video dives into some details on how we could get artists paid, and stop getting our art jerked around by corporations. For less than we pay to not get free healthcare healthcare, you could have access to all copyright content, ad free, and artists would be better compensated.