It's definitely the best website of its kind. However, it's become a lot more bothersome since it became a for-profit site. They take down any video that may be a copyright violation. I know someone who's video was taken down even though he had legal permission to use the content. They have really taken the "You" out of YouTube. Even with all their money, they don't attempt to take down racist/threatening/sexual/harrassing comments and I see repeat offenders going unpunished.
That being said, there are no video-sharing sites that can compare to it. If you want to share videos with the world, use YouTube. Just make sure you don't give Google an excuse to censor/ban/sue you by posting copyrighted content. Even a 1-second clip of a logo can get your video removed.