Brazilian here
Im going to say what people have already said, holospic would be a failure due to the following reasons:
>Latam is fucking poor
The average spic wont donate shit for the streamers, most of us dont have the disposable income required to make casual donations, i rarely donate to my oshi (im a member though) and we rarely buy merch too, as companies rarely deliver to latam, and as i said, we cant buy that shit
>spic fanbase
Not only were poorfags as i said above, spics are one of the most cancerous online communities on the planet, attention whores to the extreme, why do you think come to brazil became a huge meme? Because brazilfags keep spamming it, needing validation from any random celeb that makes the mistake of uttering this country's name, speak one fucking word in spanish or portuguese and immediately a horde of spics will come and shit up your chat, there was a vtuber called ayapan i think, who started to do portuguese duolingo lessons, her chat became 90% brazilfags (who didnt donate shit) despite her being japanese
>the spic streamers
Horrible streamers, i have yet to see a good streamer from latam, once my english was good enough for me to understand english youtubers, i immediately stopped consuming portuguese content, its trash,low effort and cringe. Spics are also dramafags, you fucking bet there would be a massive yab within the first month of holoSP(ic) debut,and of course, spicfags would shit up leddit,twitter,FB and /vt/ worse than any seanigger could ever dream of doing.
HoloSP would also be extremely hostile to one another, expect backstabbing and passive aggressive behavior most of the time
>the """"good"""" spics
The """""""""""good"""""""""" spics, which have disposable income to donate and member, and arent AS schizo as the average spic, knows english, and knows how shit their fellow spics are, they'll only watch non spic vtubers, and the potential vtubers will only apply to EN companies or any other language they know.
So yeah, never going to work, neither holoES or holoPT/BR. And thats a good thing!