It's the future of entertainment. We are seeing it in the West with Twitch.tv. People donate to their favourite streamers and companies sponsor them.
I've been getting into watching and following various ARMA3 role play streams. About a dozen streamers out of a couple hundred players will be interacting in the online world with its own rules, laws and codes of behaviour and we as audience get to see into the world through their eyes at the same time, get to see the same event through the eyes of a gamer playing a policeman or a gangster. It's essentially improvisational acting, and there's a huge potential here for some great entertainment. I think that's what's new.
But what makes it the future is that it's interactive, there is a community. The people on the other side of the stream interact back, sometimes directly to you, and you can interact directly with them. This may not be new - but it's new within this new field of entertainment, and I'm optimistic about it.