I think the solution resides somewhere in the middle: make video streaming platforms more like music streaming platforms.
Nowadays, YouTube Music, Spotify, Apple Music, Tidal, ..., all have roughly the same base music collection, competing on gimmicks like live lyrics or, for example, YouTube Music with normal video playback, or Spotify with its podcast library and sharing abilities.
This way, there is no centralization around a specific entity, but you also get to have the entire library of things worth considering to the average consumer.
Nowadays, YouTube Music, Spotify, Apple Music, Tidal, ..., all have roughly the same base music collection, competing on gimmicks like live lyrics or, for example, YouTube Music with normal video playback, or Spotify with its podcast library and sharing abilities.
This way, there is no centralization around a specific entity, but you also get to have the entire library of things worth considering to the average consumer.