Google vs Youtube
Google receives approximately 2 trillion searches each year (Demand Sage), while YouTube receives around 336 billion searches each year (Mushroom Networks). As you can see, Google receives more searches; plenty of people are still consuming written text each year. The latest statistics show that there are over 600 million blogs on the internet (Growth Badger), and 77% of internet users read blogs (Social Media Today).
Also, some niches just do better in the written text, such as cooking and recipe blogs, or product review blogs.
Pros
One pro to owning a self-hosted blog is that you own it. Unlike a social media account that could get turned off, or a platform that people could stop using, your blog is here to stay. Blogging also offers the opportunity for you to have an email list so you can own your own traffic. As you can see, blogs offer a layer of security that social media platforms often do not.
Diversification
As always, diversification is key. In the early days before social media, people relied heavily just on SEO and Google for traffic. It is most likely in your blog’s best interest to choose at least one social media platform that your audience uses, and promote your blog there. Any platform can have an algorithm change, and the key is adapting and diversifying.
Quality
As always, quality is one of the most important things. Google wants to rank the best, most helpful, relevant, and quality content at the top. As long as the internet is here, blogging will be here too.
Blogging has certainly changed over the years, and it will continue to evolve. If you use the Wayback Machine on a popular blog, you will see the blog usually looked a lot different in the beginning years. Change is just the the nature of most things!