You don't have to use Youtube for that, there is twitch and several others. Google can only hurt itself by going too draconian. Still, its their service, they can do with it whatever they want. If you give your content to them, you have to accept the consequences.

Not sure if p2p streaming will ever take off, many attempts have been made but they don't seem to catch on. People are too complacent to centralized services. They are even willing to fork money for them.

Oh and if your life depends on youtube, did it ever occurred to you that youtube might disappear tomorrow? Same with other centralized service. I remember warning people that Microsoft instant messenger would someday disappear, they didn't believe me, and now its long gone, all msn contacts lost, only a puny amount went into skype (which sucks even more).