You’re absolutely right about PeerTube. However, given the recent decisions made by YouTube and its parent company on adblocking, I think we might see a surge in PeerTube content and development soon.
One thing I have noticed in the past year is that whenever Big Tech services become compromised or make controversial decisions, the Fediverse equivalent starts to bloom. I joined Mastodon and Lemmy earlier this year because of the controversies surrounding X and Reddit. Now that YouTube has done the same, I think we will soon see a “great migration” to PeerTube.