I get that at some point twitch or even amazon.com can't control prices of ads because advertisers will pay only what they think those spots are worth but on the flip side, I think it is worth noting the costs of running twitch have probably massively increased since their justin.tv days.
I remember reading in the justin.tv days, they were trying to convince everyone that they're sustainable and that one ad an hour (not one ad roll with multiple ads, just one ad) would MORE than cover all of Justin tv costs. I'm sure the rates have collapsed since then AND the costs have gone up. I wouldn't mind 480p back when the best quality I could watch was from some guy's webcam at 720p but it is a different matter when I want to watch 1080p60 screen share. 480p is worthless for watching video games or coding streams. Probably obvious but just wanted to say out loud that the costs have likely gone up.