Storage: can be mitigated using <a target="_blank" rel="noopener noreferrer" href="https://docs.joinpeertube.org/admin/remote-storage">S3/Object storage</a>
Update your name, avatar or description in <a target="_blank" rel="noopener noreferrer" href="https://docs.joinpeertube.org/use/setup-account#update-your-profile">your profile</a>
The difference to YouTube is that it's not intended to create a huge platform centralizing videos from the whole world on a single server farm (which is horribly expensive).
Remember that PeerTube has only <a href="#who-is-working-on-peertube">one full time developer</a> and a small handful of very involved volunteers. It is not a product developed by a start-up with a full time team and significant financial support.
<a target="_blank" rel="noopener noreferrer" href="https://docs.joinpeertube.org/use/create-upload-video#upload-a-new-version-of-a-video">Upload a new version of the video</a> if your administrator enabled this setting