Twitch is not a competitor of youtube. Twitch is specialised in live shows. They don't let you upload videos, and they delete old videos of past broadcasts pretty often.
If user attention is split between Twitch and Youtube then they are a competitor. Same for Netflix. Same for Pornhub. Same for Vine when that was a thing.
If user attention is split between Twitch and Youtube then they are a competitor. Same for Netflix. Same for Pornhub. Same for Vine when that was a thing.
But if you focus attention to political commentary specifically, then YouTube is clearly the dominant giant. In that context, they are a defacto monopoly.