Coming Soon: A New Yahoo! Video

Yahoo! is working on a new video site to replace the current Yahoo! Video site. Right now, Yahoo! Video is just a video search engine, but the new site will be more like YouTube. The site will offer tagging, rating, user submissions and favorites, just like YouTube. You can see a screenshot of the new Yahoo! Video at the GigaOM weblog. To me, it seems odd that Yahoo! would build a site from scratch, as opposed to buying the YouTube site, especially considering all their other recent acquisitions as of late. Perhaps YouTube is just not for sale?