>>4026184I mean they themselves were having fun with it, sure, but they're not so naive that they would not know that a large part of the audience is made up of coomers and fetishists who get off on shit like this, they definetly know this.
In fact, part of the humor of the situation they're laughing about comes from this ambivalence - on a surface level it's just a cute (and funny >) accessory to play around with simply because you like how it looks, but on a deeper level they're also giggling about the absurdity of the situation, knowing in the back of their head that at least SOMEONE out there watching along with them is DEFINETLY jacking off to this.
As a side note, this general concept of being rather coy and playful about it also makes the "Hololive style" lewdness much more appealing to many anons here than the much more blatant (dare I say, unsophisticated) direct in-your-face dicksnvagene vulgarity of someone like say Vshojo.
For a similar thing, see also RFA-streams for example. Of course every Holo is aware of WHY they're a thing or rather WHAT (large parts of) the audience is getting out of them / using it for. So yes, they "know exactly what they're doing" and even play it up if they're feeling a bit frisky, because it gives them a chance to bait the coomers and throw them a bone while keeping just enough "plausible deniability" to not just come off as a pure whore directly. ("Geez, what are you thinking, dirty listener-san?! I was just exercising, get your mind out of the gutter, teehee...")