I have been working on an open-source application designed to be self-hosted, for transcoding video content into HLS and then playout out and remixing the HLS segments into RFC compliant HLS broadcasts, complete with commercial slots. It was mostly born out of frustration with Emby performing poorly when shuffling a playlist of different shows (periodically, a single transcode error results in being booted back to the library screen, without indication of which file it actually encountered an error playing) and a desire for a more retro, tv experience.

I have hesitated moving further on it mostly because I don't know if there's any demand or interest in such a thing, but theoretically it would be pretty easy to set up behind a CDN and get video distribution going.

An alternative for youtube would be nice, but also yeah valid points...