A stream is a very different format for content, but that doesn’t necessarily make it worse - only different.
As streams are live, anything could happen, so there’s the possibility for unexpected excitement and being a part of that as it happens
Live chat can make a stream feel social and connected with other viewers
Streams give you the ability to speak to the streamer and change the outcome of the stream
I think that the way people consume content has also changed. A lot of people watch streams “in the background” just as noise while they do other things, not in a way where they are giving the stream their 100% focus in the way you would with a short and well-edited video.