A couple of things, one my kids like to hang out and watch me play, it was entertaining for them and they enjoyed seeing their dad get smashed by the monster. And second, for games like World of Warcraft where there difficult engagements with high level enemies (boss fights) it really helped to watch not one but several folks do the fight first before you could effectively participate[1].

What I find astonishing are Youtube "clip shows" on cable channels. These are "shows" where the hosts screen videos they found on Youtube and talk about them or rip them apart. I don['t get the appeal but apparently they fill the air time. Something which was a curated set of videos about a particular video game might actually have appeal to me, either from a shopping (I wonder if I would like it) to a mastery (I wonder what other people do at that stage) kind of thing. Not saying it would make money but I would be tempted to watch it. Some of the Eve commentary would make for an excellent show as well.

[1] - Blizzard however is doing what they can to make it unnecessary much to the demise of the 'fun' aspect.