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Here is the introductory video (https://steemit.com/video/@heimindanger/introducing-dtube-a-decentralized-video-platform-using-steem-and-ipfs)
There is a protocol called InterPlanetary File System (IPFS) which allows a distributed storage of data. https://en.wikipedia.org/wiki/InterPlanetary_File_System
This means that the data (documents, sounds or videos) are not stored in a single place but shared on a network (eg the internet). The designer of Dtube has come up with an agreement with IPFS Store (https://ipfsstore.it/about.php) to store content.
As @heimindanger posted above - at this stage Dtube cannot compete with Youtube on the features that it has. I believe that this is technology that major movie companies should embrace - there are millions of movies and tv show episodes languishing on shelves which could generate revenue for these companies as well as opening them to new audiences (how many people have seen Hogan's Heroes). Here is an example of content that people not in the mainstream can create:


If the major media studios don't get on the train, they might be run over by it...

whoa