If you compare it with TikTok and other social media platforms, then yes absolutely - your argument is valid. However, YouTube serves varying purposes and it’s main ones include sharing music, long-form videos, short films, etc. I’ve seen a lot of my gamer friends staring at YouTube videos for hours at end.
In fact, it is the sole major platform for non-bite sized video content. All the focus has is on this - they are slowly replacing Spotify and Apple Music because of the breadth of content they offer, and that’s why they even have an offline version and app now. They are focusing on business strategy on different areas, not to fare against TikTok.