Here's the reality of video, and this goes for a lot of things that Apple makes "simple and beautiful". They fundamentally aren't. Video is a fundamentally difficult mess, a PITA, and the only way to have it work really smoothly is to have enough control over the entire stack to ensure that things work they way they are supposed to... and even then it doesn't always work. People adopting MP4 as a standard has gone a long way towards making things "just work" generally, but it's not sufficient by itself for a quality live stream.
I remember trying to watch a previous live stream from south america and the difficulties I had, even though I was using Apple devices and software the whole way.
Simple and Beautiful is a contradiction from "everywhere out of the box".
Those are two opposite goals.
This is an important thing to understand about software broadly, but with video it borders on impossible.
The better answer is probably: "They simply don't care". No ifs and buts. Probably making it a bit exclusive and hard to get to only adheres to their marketing philosophy.