I think it’s just a misunderstanding. With most other Fedi software, servers federate via the users themselves following content from other servers and then the admins have control over whether to sever that connection by defederating. With PeerTube it doesn’t work that way, federation is controlled by the admin of each server in the first place and they tend to keep the list quite short (on a particular theme, or just servers by other admins they trust, or whatever).
I expect the fundamental reasons for that are the expense of hosting video content and also the risk of extremely NSFL material if you throw the doors open by default. It definitely results in a lot of behaviours that seem very strange if you’re used to the usual fedi way of doing things.
That’s definitely the way to go for now. PT is pretty ok software from the creator pov but it’s atrocious as someone just looking to view! We’ll see how things develop, maybe that changes at some point.