While I don't want the YouTube channel to be shut down, I couldn't imagine that YouTube is the only place this exists and it's the only place it can be hosted.
You'd be surprised to realize what a pain in the ass it is to host a good deal of videos. There's more lost content (shows, movies and commercials) combined than archived data that exists today. Media was simply not kept and storage written over. Sadly, we're going to keep losing it.
I only managed to archive 1758 of the almost 4700 videos after reading this news yesterday. I hope someone else managed to download a bunch before the channel was removed today.
It depends on what you're trying to do. If you want a social media site based around videos with a variety of features with high traffic, then sure. If you're just archiving stuff for the sake of it, then you can simply host static content.
There are also many other places to store stuff than YouTube.