There's no technical reason someone couldn't put together a WordPress-for-Video system - or even add video to Wordpress. (Although that would almost certainly suck for performance reasons.)
The big problem is discovery. A lot of people are wondering about decentralised server networks with an open discovery/search system built on top.
That's a horrendously hard project for social as well as technical reasons. But it's badly needed to drag the web out of the corporate swamp it's currently drowning in.
from Hacker News - New Comments: "WordPress" http://bit.ly/2EjqebS
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