Someone can only make profit for example on this project, if the platform will be successful in implementing their goals.
Since we can't see the actual effect yet of this app to the community, we can't evaluate how much success they will achieve in the market.
Maybe in the future, one thing that will show that this platform is working if there are huge number of content creators that are utilizing this app, and are satisfied and decently earning from their works.
But right now, I don't think they can compete with youtube in terms of users or content creators.
YouTube has been on the market for a very long time and there were many analogs to it, now everything has changed, you need to constantly do advertising and try to lure new users to your platform
Compete with the Internet giants is difficult of course. But resources with similar goals and objectives will be launched and will be demanded by a part of the audience. If users have a choice, someone will prefer one Internet resource to another.