it can be parasocial, but it doesn't have to be. Neither does it have to be a coping mechanism. I still watch streams even if I get plenty of social interaction. I like streams specifically because I don't have to be social, and can just relax.

But yes, of course, it can be problematic, and it's important to be aware of that. Especially since there are some content creator that exploit that phenomenon. That's bad. But you can apply similar criticisms to video games, how they can exploit our psychology and make us addicted or want to spend money etc etc. Doesn't mean all games are bad, or gaming is bad, either.