I mean, PeerTube is already halfway there. The problem is that it's a pain in the ass to host, last time I tried. Which sums up the whole problem as to why we have YouTube in the first place.
Guess why it was asymmetrical in the first place ... Telcos wanted to sell the upload bandwidth to streaming companies. Another double dipping Telco monopoly squeeze and customer boxing / enshitification from very early on.