YouTube: overhyped?

YouTube is one of the hottest things on the net at the moment, as I’m sure anybody reading this will be aware. I’ve seen the odd video from it but had never consciously gone onto the site to seek out new life and civilisation for myself. Last night I decided to rectify that.
It’s rubbish!
I’m sure there are some excellent videos on there somewhere, but the site as a whole obeys the "99% of everything is rubbish" rule perfectly. Once you exclude clips ripped off TV, angst-ridden teenagers spouting guff into the camera, and oh-so-funny clips of people falling over all you have are music videos and film trailers. (yes, I’m oversimplifying but not by all that much).
This is the site for which Google paid $1.65 billion? I very much doubt I’d have paid $1.65.
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