Also one more thing, i haven't found a way on Steemit to actually upload a video. The only thing i see so far is the ability to add a link to a video. If that functionality is absent, I think Steemit can do even better and attract more users by adding it to the service/site. It could see more users migrate from Youtube.
What you're asking for is hard to do because of the decentralised nature of Steem - there is no central server, videos would have to be stored thousands of times all across the globe, which puts a lot of strain on the network.
I think I read about some people working on IPFS (Interplanetary Filesystem) a decentralised service for storing images. Not sure how hard it would be to adapt that to videos.
Yeah I understand how complex it would be. I don't know if you've heard about the Alexandra Project that for example a coin like Florin coin is using. From what i understand, it's some kind of decentralized platform for media on the blockchain. So perhaps there's a possibility of a link up or a use of such kind of technology.