Well this is how the "unofficial" streaming services make money, basically.
They don't have the production costs, obviously, so there are some numbers to crunch there. And I don't have answers to any of your questions, because I am not in the industry. I suspect these are a whole bunch of trade-offs, as in most technical questions, and there is a version of these trade-offs that are economically viable.
But people are willing to pay to view stuff, and willing to take risks to view stuff. There is a market there, there's money there. We know this because there are people making money on this.
