2020 still gaming lets play?

Do you think it is still sensible to do lets plays on youtube in 2020 or 2021 in time for ps 5, or should you go straight to twitch? But starting on twitch without a community in front of 2 viewers is just demotivating

Producing videos for Youtube without clicks (which is actually much more time-consuming than Twitch) is much more demotivating:-)

Make it easy. I would just make videos on YouTube and livestream on YouTube and Twitch at the same time. That goes e.g. With the website https://restream.io

If you have fun with it and your videos are entertaining, a community will build up.