A better question is why internet videos exist.
Why do they?
The reasons internet videos exist are ...
... many people have computers
... they also have cameras that can make internet videos
... they don't use air data plans that cost a fortune to upload the videos
It is important to remember that before the internet there were filters on what appeared in the media. It usually wasn't enough to be just entertaining, there had to be some "relevance" to important concerns of the times or perhaps to timeless concerns.
With the internet there are almost no filters at all. Videos do not even need to be entertaining. With cable or even DSL service it costs almost nothing to upload videos.
People will sit through videos for three to fives minutes trying to find some good reason for it, only to be disappointed in quite many cases.
I'm not saying that didn't happen before the internet. A lot of "entertainment" on television was just as disconnected as internet videos lately. Now there is a lot more of it though.
Lately I'm watching much television from the early days. When I was a small child watching it many years ago it was mildly entertaining. Now I wish I had spent more of my youth wisely.