No, this is not a YouTube clone in Drupal. But it sure got your attention!
Visit DruTube and if you're interested, read on. A packaged feature is available below.
Here's a little action I wrote recently, to automatically populate a specific YouTube playlist as new videos are being posted to a Drupal site, using modules Trigger or Rules. The same concept can also be used retroactively on existing content, using Views Bulk Operations: select all existing video nodes and apply the action to them.