what happened with twitch?

Social media sites that have been in the red, growing primarily through fostering good will in their customers, are finally trying to turn a profit, and there isn't much available to profit off of without intentionally kneecapping some aspect of your product. Taking stuff away is the fastest way to pissing someone off.

Because their business models can never be profitable AND provide the best possible user experience.

What happened with Twitch? I'm out of the loop there.

People are more concerned about privacy and adblocks are almost ubiquitous to using the internet. The companies need more data to profit than what the users are willing to provide, so they are shutting down or severely limiting API access. These API are also what bots and karma farmers use to create content and engagement on these platforms. But platforms have a hard time separating the two.

Users who are used to using these services for free (in exchange of their data) are now not happy they can't have it their way while they limit the company's means of profit. So they are "threatening" to leave.

Reddit is an echo chamber manipulated by bots and mods are facilitators of karma farmers and PR/marketing agencies. They're protesting in the name of users but really are just afraid of losing that bot generated content/engagement.