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PeerTube can’t store all videos. Only Youtube can handle the storage cost by using ads due to the massive amount of users. But you could still have a list of links etc. for videos. Maybe stream directly the video youtube but never be on the youtube site. This might already exist in form of FreeTube. It only misses the possibility to view PeerTube vides as well.
They are not suppose to do that. It is disrespect to the user privacy. Hence good opportunity to change owner. Just a design flaw of the protocol that makes it possible to abuse that. Gmail is just one single provider, but yes, many more does it and Gmail is big.