you can already embed youtube and vimeo videos into your posts. there are also initiatives such as steemQ by Hive account@furion to make a sort of steemit "YouTube". However, monetization is always an issue for such content (and most content, really), since the work isn't suddenly "worthless" after 7 days, just because the post can no longer being upvoted for additional value. This script demonstrates how such content can still continue to be monetized, albeit to a slightly lesser degree, but continually monetized nonetheless.