Maybe? From the FAQ: I'm not sure promoting piracy is their goal necessarily, although they may not be too concerned with it, either. The app doesn't let you choose the install directory on Windows, which is obnoxious. It also seems to rely on a "buy your way to the top" method of finding domains (called claims). If you want to have stuff at lbry://beststuff, you have to have the most LBRY Coins (LBC) put towards it through a combination of your own contributions and purchases/tips from users. Otherwise, you can have lbry://beststuff#claim_id, which is yours forever. Maybe it'll prevent monopolies, but I'm a little skeptical on that point. I guess they're promoting piracy
It might be easier to start with what LBRY is not: it is not just another corporate media service like YouTube or iTunes or Spotify. It is first and foremost a new protocol that allows artists to upload their content to a network of hosts (like BitTorrent) and set a price per stream or download (like iTunes) or give it away for free (like YouTube without ads). What makes this all possible is the blockchain technology developed by the founder of Bitcoin.