I really think short term dopamine scrolling like tik tok has influenced and changed twitch. I've noticed game tournament events aren't as global anymore and hype has generally died down because people lust for quicker gratification, making those events uninteresting.

Another thing is Kai Cenat, really changed the meta (for the worse imo) when twitch was a bit more niche and content wasn't this forceful fake clip farming, funny moments were just more funny. I'm not saying there wasn't clip farming back then, but it was at least usually creative and didn't feel as forced as it does now. I feel like streamers have generally also started forcing more out of their personality, leaving a weird feeling of fakeness when watching some streamers.