Earlier quoted context omitted.
I'm pretty sure Youtube will overtake Twitch as a streaming platform within a year now. They have implemented the features they lacked a couple of years ago like premium subscriptions for channels. And since they advertise streams in your watch next recommendations in youtube you will get a lot of spontaneous people watching them easily, while you only go to Twitch if you specifically want to watch a stream. Some vid…
I think you make a very good point. I would add that in the short to mid-term, Twitch could also grow thanks to the pie getting bigger. Video streaming, I believe, is far from having peaked.
If you're interested in some tips on a game and search for it (maybe "In game X I'm having trouble on this level") chances are you'll get some hits from youtube of people running the level as a walk-through - twitch highlights don't tend to be as indexed or as accessible since the metadata about what's actually in the video is a lot weaker by default.
Those hits on folks looking for a walk-through will end up with some conversions to stream subscribers and I think that's why Twitch is really destined to struggle.