Absolutely!
I had the realization last night when we were trying to find a race on TV. I realize that my home experience is probably considerably different from everyone else, so maybe this kind of thing would only apply to myself. Anyway, Dave and I spend a lot of time watching Formula 1 and motorcycle racing on Speed TV. We TiVo all the practice, qualifying and racing that we can. The problem: Speed TV is so far up NASCAR's butt that it makes the channel nearly unwatchable. Turn Speed TV on 10 times in a day and you will find NASCAR coverage 8 of those times and then the other 2 will be some custom chopper show or an auto auction. Rarely, if ever, do you see awesome racing.
So I was lamenting that last night and then I got on Youtube and found hours and hours worth of shifter kart racing, boat racing, hydroplane racing, racing skateboards, snowmobiles, on-board footage from bicycles... fucking EVERYTHING you could want to find. I spent a good hour and a half watching my very own Youtube show. It's really great.