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To be fair, Nintendo could care less about live streaming or gameplay videos whether you are one or not. You can still get a claim regardless, except with the program you can make that claim your own. They don't take down the vids if you aren't in the program, so there's really no major risk to streaming or doing gameplay unless you have an early copy and break embargo. (which is why the SSB Ryu leaks got full blown copyright takedowns) Compared to Victor Interactive, which blocks your videos anywhere outside of Japan, or Shopro, which won't even hesitate to block your video on Pokemon's anime even if you do nothing but show an image of the poster for a movie/season and nothing else, Nintendo's surprisingly lenient for a company in a region with extreme copyright rules.
For the heck of it, I did check the Japanese eShop to see if the YT app was there, and it actually is, so at least it seems it's not a region lock situation which Nintendo wants to push Nico Nico to their Japanese users instead.