If it is possible to create a truly high-quality product, which will undoubtedly require some effort and time (from the organizers), then why not sell it?
Regarding payment, everything is indeed not very simple. As I see it, it would be good to introduce something like a ticket for any session with a fixed price. That is, you buy not a specific stream, but the opportunity to attend any. For example: I know that Alex and Pete will be playing on the weekend, and this game is definitely worth watching, but I'm not sure if I will have time for it. If a specific match is being sold, then I am likely to refuse, as I don't want to waste money. However, if a free ticket is sold, even if I don't make it to this game, my money won't go to waste, and I can just wait for the next stream of this level.
Here, you can also include marketing moves at the level of a bonus system, such as: "every third stream is free," "bring a friend and get a free ticket," and so on.
As a viewer, I am willing to pay a small amount, $1-2, for the opportunity to watch such content. Well, as a streamer, I'm unlikely to be of interest to anyone, haha

"Это нам идеально подходит!" [Новосибирск, 2013]
"Красавчик! Если только не читер.." [Киев, 2014]
"Это Вам не шутки - нажрался Dust в маршрутке" [Новокузнецк, 2015]
Сам ты фиш (с) :D