The online video world appears to have room for one more player as Microsoft puts the new Soapbox up against YouTube. Currently this service is in beta and is by invite only. I suspect this service will eventually be integrated with the other Windows Live service offerings.
I find that the video service is even more difficult to navigate than the blog world (the cream does not always rise). With a blog all the search engines can look directly at the content and so my searches are easy and effective. With the video world you rely on tags and the comments of others, which are often misleading. I personally will not be signing up for this service. I find that the camera adds 10 pounds to you anyway, and I do not need that kind of help.