If that's the answer, then it's a pretty meaningless question. I don't want clips, out takes and trailers - I want the on-demand service for programming. This is just the BBC bigging itself up about something thats really not that interesting.
If there was a wide range of half-decent movies and TV shows on the iTunes store (in the UK there are currently approx. NONE), and they were of DVD quality at least, then I wouldn't moan about the way Apple is dealing with DRM. But there isn't. And the inability to play Windows Media DRM is really inhibiting my internet experience now to the point where I'm seriously thinking ploughing my savings into a Windows machine instead of a Mac.
Right now, the YouTube implementation is a very limited 'solution' to the lack of licensing on Mac problem. However, in principle, its a very important step, as it shows there is a mature, robust video distribution mechanism out there that isn't Microsoft- (or Apple- come to mention it) only.
Sure, right now my understanding is that YouTube don't have movie-length videos on their network, and they don't have any kind of DRM scheme. But these would be relatively simple extensions to the YouTube service, and is arguably the way that YouTube might actually start to make some money from their service. Therefore, it is entirely conceivable that the BBC is toe-in-the-water trying the YouTube partnership right now with small clips, etc. as a test the feasibility of putting much larger content on there later.
The really probing question the astute reader should be asking is, are YouTube going to a) support much larger videos via their network AND b) going to provide a limited-access system similar to DRM?
Without them providing this service, the 'YouTube as the saviour of large media on the Mac' argument is moot, of course.