YouTube is the technorati and flickr for video files . You can upload and share your videos with thousands of other users and visualize all the sites content via Tags just like technorati.
The idea is great and right now the japs and chinese are making the most out of the service. There are some really cool videos like this Ninja Man or the funny 2 chinese boys I want it that way , which is an absolute must see loool .
If you want to save the YouTube videos follow this guide.
Update: The Lion Song kewl!