Seriously, when's the last time you went to YouTube to look at a video that didn't have a copyright being infringed upon? For me, it was probably that stupid "Leave Britney Alone" guy.
The bottom line is that YouTube -- and all sites like it... college humor, brightcove, whatever -- would be nowhere if it wasn't for rampant copyright infringement. I don't really mind because it allows me to find really obscure videos and songs from the 80s like Jellybean's "Sidewalk Talk" and The Box "My Dreams of You". But I think we should stop kidding ourselves that YouTube is popular because it's some kind of revolution of peer to peer communication. No, it's popular because it allows everyone to watch the copyrighted videos they want to see right in their browser... whether or not the copyright holder wants them to. If Google actually succeeds in locking it down from hosting copyrighted material, I certainly wouldn't need to go there anymore.