Is the point of a regulatory agency to decide for hundreds of millions of people what their acceptable level of risk? What if thousands of people die from not having access to medications that a regulatory agency deems too risky?
If you don't like those risks then don't undergo it but for other people will find the risks acceptable and want to have it done. Being approved doesn't mean it is forced on anyone.
I tried switching to vid.me but then they shut down because they weren't make money. Considering that YouTube still allegedly operates at a loss to Alphabet, it will be pretty hard for a viable competitor. Maybe something distributed like PeerTube has a chance.