Yeah, discoverability is work on Fedi, unfortunately most people would rather consume algo content from a bad source then work to find good people to follow.
Everything is open, I suspect if we REALLY wanted to we could make an indexing service to help surface content based on preferences, but then that’s a high value target for corporate America to farm. Also it would be pretty expensive to pay for it :)
The idea is you’d have dozens or hundreds of people hosting loops and they’d each spread the cost among them and get funded by followers and philanthropists. Most lemmy instances use CDN, but it’s nowhere near as heavy media-wise.
You could also go the Peertube route and have the client share what you’re watching with other people torrent style.