I agree. Also, I think it depends on what’s in ATVI’s game pipeline, how badly it was affected with several titles from various developers and published postponed already, including old games ported to new consoles (e.g. Switch).
Content-making industries without the platform lock-in, such as Netflix, are kind of “cyclical” and, like the music industry, have hits and misses. (This is probably why some titles have not been made available on Steam at first - Valve have a lot of power.)
Fortnite could be hot now but their next season is postponed already and maybe it will be “replaced” by a non-Epic Games-made/produced title. And some popular streamers can jump to another game they like - and they have large followings. Then, there’s a question of how do they (ethically) monitise their users, since a bunch of most popular titles are kind of free.
ATVI were already struggling not long ago with layoffs which caught media attention.
Will they be able to capture the gamers attention with the new OverWatch, etc when there’re so many games and videos to play and watch?
The attention economy is hard. I reckon a lot of gamers are casual users, so they can choose between YouTube and Animal Crossings.