Sadly I dont think i could make one but ive seen peertube and its a bit off feeling( i cant place why) but thought hey maybe those who can make something like that will see the post. (Also I would love to scare youtube with competition cause they freaking need it)
Ill start I NEED to be able to play audio on a Mobile device when the screen is turned off youtube makes you pay for that 1 line of freaking code! Heckin BS
I think the big challenge is the recommendation engine. If a service ever got popular enough to have a large set of videos there would be a need to discover them.