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Raiding is such an interesting dilemma. It's actually the Prisoner's Dilemma from game theory.
The prisoner's dilemma is like this:
Two criminals are captured by the police, and taken to separate interrogation rooms. Each of them is given a deal.
Outcome 1:
>Both prisoners keep their mouth shut. Thus each goes free with 0 jailtime
Outcome 2:
>One prisoner informs on the other. The one who kept their mouth shut gets the maximum sentence, and the one who talked gets a reduced sentence.
Outcome 3:
>Both prisoners talk. Both get a severe sentence, although not the maximum sentence.
The best outcome is for neither of them to talk. However if one keep his mouth shut, he runs the risk the other guy will not, and he will be going away for a long time. Thus the final result depends entirely on the trust that both of them have with each other. Will they talk? Will they not?
These prisoner's dilemma style problems show up all over society. Where, if one person acts beneficently, he will be screwed over if the other people do not. Solving these types of problems and building trust in the community is in large part the goal of government and religion.
In Raiding, the livestreamer is giving away their audience to someone else. Taking a minor hit perhaps in their own audience. But if everyone raids each other, it keeps viewers within the company, and therefore everyone is better off. So you're asking the livestreamers to engage in behavior that harms themselves, under the expectation that they will receive the same in kind. It's about trust, friendship between people, caring about your community.