Oh, I know the experience pretty well. The fun fun fun of having something stuck at 98% for a week or more :D
I was thinking, if the creator themselves would seed their stuff it could work - although I admit it'd have to have some kind of seed schedule and maybe some heuristic to see which videos were still available or not. There'd be problems with bandwidth, but I think it would at least allow a decentralised video network to exist, even if it would feel a bit more like watching anime in year 2010.
And yeah, fair point. I don't really do live streams so I didn't think about them. Honestly don't know what a solution for that even could be, in terms of "everyone hosts a little bit to spread the load and price".
Don't really think it'd be that big of a mess for premiers, but then again I don't see a big issue in waiting a day to get good content. Y'all are spoiled with cdns and social media /s :D! In my experience torrents propagate pretty quickly so it could still work. Think the bigger issue would be the fact that people have preference for different resolutions, so you'd end up with massive torrent downloads that have 4k, 2k, 1080p, 720p, etc. Or multiple torrent files for different resolution. The worst outcome would of course be "creator just dumps 8k 60fps content on the network and tells you good luck".
Either way, I won't pretend like torrent net could match the service of youtube right now - but I do think it could actually make a video network actually work, without prohibitive costs for the hosters and subscriptions for the basic users. It'd still be nice to support creators and the trackers but those aren't as big of an ask as "host hundreds of 4k videos per creator forever".
[edit] as a last minute thought - I think I know another reason why torrents may not work so well. You'd have to have an app or a browser extension to use them, which limits the accessibility compared to "open url and watch".