>>18297385Hololive has experimented with streaming on twitch a fair bit, but they have to do it carefully because youtube busts kneecaps if it thinks you're looking to jump ship.
Youtube is better for discovery, especially when you're small, but twitch has a lot of benefits. When you're big enough to pull in 10k on one of the largest directories on the platform, you're basically on the front page of the entire website, compared to youtube actively concealing vtuber content for asinine reasons. It also reports your viewership more honestly, which gives you BIG NUMBERS you can report to prospective business partners. It's a more stable platform for streaming (though this comes at the expense of performance), has better admin controls for its chat and better revenue pathways (but worse ad revenue).
Most importantly, it's rules and creator guidelines, even after being irrevocably pozzed, are still much more lenient than Youtubes. You can swear, you can push DMCA boundaries much harder and, (and this is the really wild one) you can stream and monetize games WITHOUT PERMISSIONS. You also won't get your channel automatically banned by an out of control bot because your live2d avatar has some cleavage.
The main downside to twitch, aside from the client being bloated and unwieldly, is that it has ridiculous internal politics. While you're less likely to get automatically banned by a bot from a false-positive or report system abuse with a 2+ week appeal time, if you are an outside that finds success, you are very likely to get banned for arbitrary or made-up reasons by real administrators with no option to appeal, purely because you threatened their prized pigs. This makes it a decent secondary platform for occasional streams, but not suitable as the 'home' platform of holo vtubers.