Besides the ad policies, the Twitch revenue split for subscriptions has been changing over time. Historically it defaulted to 50/50 and most streamers of any decent size audience would have a contract to be granted 70/30 split. However, the 70/30 split has been phased out and today nearly no streamer on the platform has it anymore. This is a huge difference for streamers. The CEO of Twitch was handing out 70/30 split "coupons" as a prize in a live event[1], it's a big deal.
Besides subscription revenue, Twitch is constantly battling to reduce other sources of income, like branded sponsorships. Last year they announced significant restrictions on streamers displaying branded content with sponsors.[2] While these rules were soon reverted, it suggests Twitch is in a fight for its life. All indications point that this is going to continue to be a problem in the future. In short, streamers need to deal with the ads because their revenue from other sources is constantly at threat.
1: https://www.dexerto.com/entertainment/twitch-ceo-surprises-s...
2: https://www.theverge.com/2023/6/7/23752437/twitch-new-ad-rul...