I don’t think we have much of a choice. YouTube is the 2nd most popular website and it’s just breaking even with its cost to host content and revenue earned. It’s owned by Google, a company that can afford to maintain the service, which is why the alternatives have to limit what they offer or flat out shut down.
Vimeo allows for free video hosting but only up to 5GB; then you have to pay for more storage. Vid.me allowed for free unlimited video hosting… until it shut down cause they couldn’t afford it.