The danger of having a single person in charge of that account would that if something happens, whether it's just becoming disinterested, a falling out, dying, nuking the bridge or something as simple as selling your truck and becoming inactive, could render the channel useless if the person controlling it doesn't hand it over (or unable to). All of these situations have been seen here.
May03LT used to be an active member/mod and uploaded a large number videos tagging GMTNation. He has since moved on and we have a post listing all his vids. Eventually, I can see each and every one of us active members moving on, including myself.
It's a good idea and has advantages and disadvantages. I think the best would be to have a post, like the FAQ's, to list them uploaded by individual members. Easier to manage.