The idea of whether or not a job is efficient to exist is independent of this. There are other ways to distribute money than creating jobs with output we don't need. I.e. maybe this is something we decide is a useful public service and we do create some public department to arbitrate this - great, we created the work because we said the work was worthwhile. My guess is most don't consider a place to host your videos/livestreams a public service though and trying to regulate the private companies in a way they'd function like a public service instead would both be unpopular and extraordinarily inefficient/complicated.

The comment at the end of your comment is probably what triggered the negative response here at HN for what it's worth.