>>69751876We've already been through this many times before. No, COGS for VTuber merchs aren't high. A 50/50 of profit cut should get your "livers" somewhere between 10%-40% of the revenue depends on the types of merchs, not anywhere as low as 2.5%.
If, theoretically, AnyColor getting only 5% of revenue, there is something really wrong with them. Just look at how much retailers make in your picrel.