I agree with you on this, and would be happy to see it happen but it might honestly cut back on attendance from competitions already. There's been a pretty big dip in comp attendance since around 2011 (probably even farther back) and its slowly increasing. From what I've seen, a lot of people don't think its worthwhile to go to a competition where they have seen the same routine or when they know the video will be posted later down the road (few days to a few weeks.)
Don't get me wrong, live-streaming would certainty boost awareness of bhangra and might even help boost attendance at comps, but it might cause people to be less inclined to attend competitions and therefore hurt ticket sales. It's basically a double-edged sword, in my opinion. Unless you charged for live stream and it was set up by a competition committee, it could be worthwhile to get for those who can't make it to watch the competition because of work, other plans, family, etc... and to extend competition "ticket" sales.