I don’t see YT being replaced in that sense any time soon. Federated text and image content is really still in infancy, and video hosting at the size of YT is a tremendously more complex feat, requiring, at the absolute minimum: a metric crapton of bandwidth and storage.
For me, I just use invidious and similar for the foreseeable future, or peertube when there are things on it.
At the very least, not being signed in to YT and having only a local watch history and subscriptions (=not on a YT or Google account) does starve the algorithm a bit.
Good thing he gutted Twitter’s content moderation teams in the name of “free speech”, eh?
If I had a dollar for every time a billionaire loses more money than I could ever dream of because their hubris got in the way or they misunderstood a concept or were just plain dumb – well, I guess I’d be a billionaire too.