The stream itself is super boring, what I find amazing about the Series is what lore that comes from it. Specifically from the sub reddit for the stream at Twitch Plays Pokémon .

I followed both Twitch plays Red and Twitch plays Crystal. Everyone followed Twitch Plays Red, because it was a new experience that we hand't seen before. There wasn't much of a cool down between Red and Crystal which was a bad move, so the hype around "Twitch plays" subsided. What was left were people who were generally interested in the stream, and those who followed the associated mediums for the artwork and lore like myself.

To me, twitch plays Pokemon is all about the Artwork and stories that come from the events in game. In that regard, Twitch plays Crystal was FAR better than Twtich plays Red. The entire story behind Twitch plays Crystal was that Twitch plays Red had a massive following that halved as soon as game ended, and that the characters that appeared in Crystal had to live in the shadow of the first stream. For example, their Eevee and Pidgey already had a story from the first playthrough, so were not new. That forced them to create new personas, which they did and they excelled at it.

Twtich plays is not dead. There was a week break between Gen 2 and 3 which I think was sufficient. I'm very excited to see what's coming up in this generation.