As some people have pointed out, it protects the liver, but from personal experience, I can’t confirm the “not getting drunk” part … so I’d be really cautious about blanket statements as the one in the title of this post.
It’s already being pushed to the Chromium repo, or so it seems:
https://github.com/chromium/chromium/commit/6f47a22906b2899412e79a2727355efa9cc8f5bd
I feel like people mistake YouTube for a video hosting solution.
But that’s not the point.
So, if the only thing you’re looking for is a video hosting solution, then, yes, PeerTube might be an alternative. In the same way uploading videos to your own webspace would be, and Vimeo also still exists.
But for all the other stuff, YT is, unfortunately, unmatched, and probably will be for a while …