Did not know that you know so much about social media strategies - great video! I simply agree. The main product of Facebook is the users (family and friends), where as the main product on YouTube is video content.
Who would like to make a family member or best friend to become a product? In the future I think that this will impact a lot on Google's social media platform, Google+, because it simply treats the users in a different way.
Google+ is also used here with the comments, and plays a big role in organic ranking. So the people looking for knowledge or products will go to Google and use either the organic results (SERP), click on a advertisement (Google AdWords) or interact with the G+ community in their circles.
This is all without changing the platform (YouTube with ads) and the users (viewers).