I agree: http://www.google.com/trends?q=justin.tv%2C+ustream
Their problem is branding. When you think "realtime video streaming online" does the word "justin" even enter your mind?
http://www.google.com/search?q=stream+online - nowhere to be found; http://www.google.com/search?q=video+stream - over halfway down the page
It's quite sad. justin.tv's infrastructure is better than their more popular competitors, but performance doesn't always win the mindshare war.