Yes you’re right. Some YouTubers make smaller clips, but it’s only selected pieces of particular interest, and often on a separate channel for clips. They don’t take a three hour video and cut it into 20 10 minute videos the way LE does. Like you say, it takes his audience for fools.
Unfortunately some of the YouTubers attempting to replace LE seem to be copying his longer videos which is hopeless.
If somebody made a channel that summarises the conventions in about 10 to 20 minutes it would be much more successful. You might even get active JWs watching it because it would be easier than watching the real thing. Faders could watch it as a cheat sheet so they can pretend they watched the actual convention in conversations.