It is but there’s just not enough content to get me to fully stop YouTube yet
I don't think anyone is proposing an overnight switch. You've got to take the long view. That said, I do think when it comes to federated activity pub style projects, Mastodon has gotten off the ground, Lemmy has exploded, pixel-fed seems to be doing pretty good, but the video stuff appears to be a tougher nut to crack.