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To those who keep saying "It's not like Aqua's dead, they can line and meet up in 2 hours" I'm sure somebody's already explained it but I'm going to do it again regardless. It's more than just the graduation of one particular talent, it officially marked the end of a whole era of chaotic, natural, organic hololive (2018-2024). Aqua's reason for leaving was her disagreement with the direction Hololive has taken. Like with every small garage startup that becomes a major thing, Cover is now being heavily influenced by its corporate investors and shareholders. It's gotten too big which will further limit the artistic freedoms of its talents. Can you imagine 35p casully dropping the N word or peko slaughtering lamy in minecraft out of the blue in modern day hololive? Their eagle eyed handlers won't let something like that slip anymore. It'll keep getting progressively safe, scripted, expensive, boring, shitty and in the future might even be acquired by some big media conglomerate the likes of time warner or disney or whatever. The focus is already steadily shifting away from JP so expect to see things like Hololive Africa/India/Latin America/some other shithole. It makes a lot of sense if you were to look at where Japan's own foreign policy is taking them.