I think that this will mostly be used by people in the tech, FOSS and gaming sphere. And when it comes to monetization, setting up a system as big as Google's is impossible, so, I don't know what percentage will move completely, if any.
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Monetization could still work with sponsored ads and Patreon, and nothing says you can't post to both PeerTube and YouTube to build your audience in both places.
There's already Nebula. It's a subscription service run by a collective of creators.
I'm not a subscriber there, but I'm thinking about it.
There's a few content creators that I like there so I subscribed to Nebula last year. The CuriosityStream combo has been a nice perk too, as I like documentaries. I dont think they just let any creator join though, they expect you to have already refined your quality and bring an audience with you. Hopefully more creators will create social feeds as there is no comment mechanism. PeerTube so far has been a neat experience, but it's almost all FOSS discussion. It's neat tech, hopefully more small time creators join in.