Yeah, that's exactly right. Currently I think there's DTube, YouTube, Vimeo, DLive and probably a few other minor video hosting sites that are being used for embedding video in Steem posts. This will hopefully allow them to be searched and curated together from one site.
I started this before I knew about the large number of improvements that DTube has just announced, so there's quite a bit of functionality with that now. Still, DTube doesn't always work very well for everybody, and may not attract all established YouTubers when they find Steemit (although Ned's big delegation is certainly going to help there!). I also have a couple of novel ideas, which I don't believe have been applied elsewhere, and I will be implementing those once the basics are working.
I like the proposal a lot!
Bringing together different decentralized applications and showing them on one platform has value.
It's one way to create more tools to create a level playing field for any project to compete.
Curious to see more!