The other element to this is the lack of competition. Since companies funded this way don’t need to turn a profit for a long time, they can very easily kill their competitors who do need to be profitable to survive.
So when the time comes for the company to turn a profit, there are few if any competitors left to put pressure on them, giving them the power to do what they want, and leaving consumers with no other options.
PeerTube migration time! Federate everything!!!