Your aging choice of video options for embed really needs some update. I understand the security and/or system lag concerns, but really! ABC, NBC, CNN, and CBA news and non-profits with great videos like TED.com, which are designed to stimulate discussion, should be able to find their way into WordPress documents. It's a kind of censorship by proxy. Sure I can put a link into the article. I can stick a photo in to replicate the video embed box, but it is a poor user experience.
We are not married to your platform. If the systems don't modernize here, I'm sure that we can find adequate replacements elsewhere.
When you run a news, op-ed and information blog, it is imperative, to be competitive that you can provide an equivalent experience to say the Huffington Post or Politico.