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In an immediate sense for me, the content I want to see. I've found virtually nothing on PeerTube that's worth my time watching, whereas YouTube has all sorts of interesting stuff.
But that really just leads to a deeper question of why that content isn't there.
Google's got the economics set up so that they can pay content creators. PeerTube doesn't. That means that people who want to do this for a living are going to be on YouTube.
Not all of the content I want to see falls into that camp, but certainly some of it does.
Then there's network effect, which benefits an incumbent. PeerTube has a limited userbase. Even for people who are putting up content without intention of making money, they probably want to reach a large number of users relative to the effort they put in.
I think that the big factor is going to be the economic side. Google's got a setup where they can make money for their own infrastructure and pay content creators. PeerTube doesn't, and I don't really see a way that that changes.
I kinda hope it stays that way, creators who do it because they want to share not monoplise. I think like here its just slower. It will hopefully grow organically