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Peertube's moment might come soon
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A long time ago I read a paper how to mitigate this. Without remembering the details, the idea was: 1. One peer never holds a complete file, only parts of it. 2. You need a key to find all parts of the file and get them in the right order. So Disney can only accuse you of having an incomplete and unusable part of their movie.
But copyrighted material is only one issue. Do you want your hardware to be used for distributing depictions of sexual abuse, or inciting hatred and violence? Any YouTube replacement will need strong moderation tools.
That is essentially how bittorrent works anyway. In Germany people lost in court over this. Also portions of a copyrighted file are a problem. If they can "proof" that they got a relevant portion (more than the typical fair use seconds) you are still on the hook.
'Landgericht Hamburg' proofing will be hard, admittedly. But doesn't BT just split up a file in x parts, so each part is watchable? What if you sliced differently, like every 100th byte of a file? Or even bitwise slicing? Not one 600 s snippet but 60000 10 ms snippets from throughout the movie.
That could help, but if a file is not shared that much (yet) or not many people are online at the moment, a single peer will still share many more parts, likely ending up with having shared significant amounts.
The concept is that will only happen if you have watched that video depicting sexual abuse, because your peertube client (the website) won't download videos you didn't watch.
I was thinking of a hypothetical system were peers provide storage for creators independently of what they are watching (in response to 'videos take too much storage for individuals to host' comment. For peertube, you are right.