>>57664551nta, but the calculus is pretty simple.
Why are female vtubers so successful? They appeal to a lot of male loner nerds who want to watch cute girls. Prior to vtubers, their only options for content from females were vapid 3DPD ethot twitch whore streamers. Now vtubers exist, and they're both cuter, funnier, less bitchy and more agreeable, in general simply better and more appealing to those male nerds than the previous offerings, so it's no wonder they flock to them. (Giant disclaimer, obviously "bad" vtubers also exist who're basically just the same old 3D ethot whores but with anime avatars, but on average the top vtubers are more quality than the top female irl streamers).
So the target market and unique selling point of female vtubers is pretty clear, and the success proves them right. But what's the target market and USP for male vtubers? The same but just gender-reversed? So, female audiences who want to watch pretty anime boys and get something from them that they couldn't get from male fleshstreamers previously? Well, sure, some of that exists, but obviously not in the same numbers to match the "male audience -> female vtuber" success. Or is the target audience other males who want a "brotuber" experience? Again, for those there's no shortage of male fleshstreamers you can claim as your "bro", and there's little point to just putting some faggy anime pretty boy avatar on top of it. So, male vtubers have a much smaller target audience so far. I wouldn't go so far as saying they "shouldn't exist", but it's always gonna be an uphill battle for them and you gotta recognize they'll never be as successful as female vtubers in AGGREGATE (important, so you don't need to counter with cherry-picked special-exception examples like how a few JP niji males are big or how Luxiem was FOTM with chink fujos/yumes for a while, yeah those are exceptions that prove the rule)