They probably don't want to overshadow Twitch. According to the site this is the content allowed.
Movies Professionally produced content containing a storyline with a runtime of 40 minutes or more.
Short films Professionally produced content containing a storyline with a runtime of 40 minutes or less for standalone content or 10 minutes or less for episodes.
Clips Content which is short in duration (runtime of approximately 10 minutes or less), an excerpt from a longer recording, or a compilation of clips.
Concerts and performances Content of a performer or group of performers presenting one or more works of art, including live performances.
Educational Content which is instructional or educational in nature.
Interviews Content containing one-on-one or one-to-many conversations in a question and answer forum.
Music videos Content integrating music and imagery, including film rendition of a recorded song.
Reporting and journalism Professionally produced content containing informative discussion or opinion related to events, ideas, or individuals.
Reviews Content which provides an informative description of the features of a product, service, event, or content. The sole intent of a review is to help the viewer in their buying decision for a product/service/event that is explicitly stated in the metadata, and doesn’t contain unrelated content.
Sporting events Content of a broadcast of sanctioned athletic or sporting events.
So it's pretty much Vimeo but with more monitiaztion options. It seems this works only for KOGaming content. Maybe?
What interests me is the ability to earn based on how much gets watched.