I'd welcome competition. Vimeo is the closest thing I can think of and it differentiated itself. But I don't think Twitter is the right one to do it. IMO, these services are best when they're narrowly focused. YouTube branching into shorts, Facebook and Instagram branching into... well, everything... has made those services cluttered, and makes their once core features worse.
If a claimant makes a bad-faith claim or the claim is done by undersupervised automation? Sure. But I think some of these claims are false positives by YouTube's ContentID system. In those cases, does YouTube pay? I agree there needs to be a disincentive to over-claiming (including but not limited to holding ad revenue in escrow and returning it to the video's owner if the claims are false) but in practice, I don't know how it needs to work.