PeerTube won’t take off unlike Lemmy did and still does. People won’t switch from YouTube to PeerTube because the creators they watch aren’t there. Also the YouTube Algorithm is what people make use YouTube in the first place.
Reddit isn’t creator based and doesn’t necessarily need an Algorithm since the users choose what to see anyways. So the Lemmy experience isn’t actually that mich worse than the reddit experience
I don’t think that’s thaat much of a deal. Most youtubers also need additional revenue streams like patreon and mearch and sponsorships.