You can already do that thought not with a "Video tag." You can put videos on your server and have a Flash/Silverlight/Whatever player embedded in your web pages, It just happens that YouTube made this process very easy and became popular, in the beginning many people didn't even know you could watch videos on the web.
Anyway, I am waiting for the focus to get off of YouTube and for people to start realizing videos can be posted to many places, not just those that only allow 10 minutes and so forth.
Anyway, I am waiting for the focus to get off of YouTube and for people to start realizing videos can be posted to many places, not just those that only allow 10 minutes and so forth.