Some peertube instances do, most do not. Some have manual processes, some don’t.
Ex: https://makertube.net/signup
And no one is stopping anyone from creating their own server. Yunohost even makes it a one click solution.
It’s just like Lemmy/fediverse stuff. Each instance provider has their own rules. And that’s ok
Discoverability is one of the bigger issues. In YouTube there is a huge push to be more discoverable to the algorithm and to keep users on the platform. In peertube there’s no such pressure…for better or worse.