There is a kinda of magic to it. While it began because bot voted political memes were ruining the site (500 upvotes, one comment...yeah right. Funny how they don't get that many upvotes now that they have their own stream huh?) The initial breakup was awkward and there was a lot of redundancy.
But now as people learn how to stream, there is an stream for people that share unique likes that no longer get buried in the back pages or worse downvoted by those that don't understand. They are now free to indulge in what makes them happy and with mod powers, keep out the haters.
But magic is both good and bad. There is great humor not being seen by the masses due either to people not being bothered to search through multiple streams (guilty!) or the private streams that only those that know about can find (guilty again!).
(Question: how did you locate the number of streams if many of them are private? The drop down only lists about 20 or so.)