It's not just becoming more like reddit. Reddit still allows you to post porn and whatever you want in your own subreddits, and you can even make subreddits invite only.
Twitch inconsistently applies the ban hammer across the board. DMCA takedowns apply to everyone, even if it's your ringtone while you're coding with just 1 viewer. And takedowns rarely are given any sort of explanation, and if you aren't already a big enough streamer to create an uproar on twitter you're likely fucked.
And as little faith as I have in reddit's moderation, I have none in twitch whatsover. Trusting twitch's moderation team is like trusting facebook's privacy team. Yes, it really is that fucking awful.