Came across this great video from young music class. When you combine Eye of the Tiger with some random kids and a hilarious solo, you've got user-generated gold.
Although this video isn't ad related, it does show that everything on YouTube doesn't necessarily suck. I think that forward thinking brands will use their agencies to discover great user generated content for them and find a way to use it for themselves. Think about the categories (music, CPG, education, whatever) that would love to attach their message to something like this.
With the sheer amount of UGC out there, maybe we should change our strategies from content creation to content discovery.