>>53666991It's the holo>niji>phase/smaller corpo/indies anti pipeline.
Holo fans who were disappointed with the management (holocaust, Coco's termination, Aloe's graduation) or simply hated the path they're taking (idol culture) switched to Nijisanji because at the time they weren't as popular as Hololive in the west but now that isn't the case, they switched again to smaller corpos + indies like the stupid hipster elitists that they are.