I don't believe one exists, correct me if i am wrong. I believe something like this should be worked on as i sense youtube is going to tighten down soon, too. Would it even be possible?
Peertube is one of the oldest federated software projects. It's a lot less sustainable than ActivityPub platforms because storing HD video is much much more expensive than what Lemmy instances currently do. Lemmy as a platform with a few federated home servers could feasibly replace Reddit, Mastodon could feasibly replace Twitter, but if PeerTube ever got mainstream enough to handle even 0.01% of YouTube's traffic/hosting footprint it'd be impossible to deal with the associated costs.
Not as much as you might think. Depending upon the type of video The actual encoded files can be rather small comparatively. The big thing in heavy lifting the platforms like YouTube etc do is the multi-rencoding for different resolutions. And then hopping between them on the fly to try to keep the stream as real time as possible.
If peer tube has lag and doesn't support high definition / multiple resolutions per video, it'll never get enough popularity that storage / bandwidth become issues.
Yeah open-source alternative youtube would look bleak without some sort of reliable (and heavy) funding. I suppose if they could get the eu to fund them, then maybe but yeah it looks a bit bleak if i am being honest
If funding enters the picture, capitalism means that it'll eventually shift towards profit (or in some cases "not operating at a severe loss"). Something based on BitTorrent might be one of the only capitalism-proof solutions for handling video, but that of course has its own problems (most people that create video content like to be able to delete it, for example)
It isn't federated but LBRY is a project that is kind of similar to federation (but not really). The code is open source, videos are shared p2p (mostly? I think there are still servers involved, honestly not 100% up to speed with the technology) and you can have different apps which can offer different curated experiences (which is kind of more like federation in that sense I guess) with Odysee being the main one. You can see some of the stuff built on top of it here.