Not to mention it lacks any (ethical) monetization options. And the app is absolutely rudimentary, lacking even basic functionality.

Framasoft made it clear they don't want to make it a Youtube alternative though, however it could be through plugins. So there'd have to be a company or cooperative using it as a base to build upon, which is actually realistic. Especially European ones; not because Asia wouldn't be interested in being more independent on the US as well, but because Framasoft is from France and Europe actively works towards this goal anyway with lots of money behind it.