No, I am not saying that it is mutually exclusive. But if the breaking point of an LP being made or NOT is the ad revenue, that person has no business doing it.
Also, your last statement is wrong, Pewdiepie is amazingly terrible at things and he IS supporting himself with the ad revenue.
On the other hand, I've said it before, but LP monetization is in my opinion the WORST thing that happened to it.
Because having better cameras, software and equipment must always lead to a worse product?
Seriously, it's a pretty nonsensical argument. In fact it sounds downright damn hipster, "Oh they make money with their band, fuck them, they seriously sold out and don't 'get' music!"
Yes, the breaking point for some people is money, because money buys free time and resources to actually do it in the first place. I think there's room in the world for LPs that aren't created with a handheld camera phone.
Nope. Having better stuff does not lead to worse product, but LP monetization HAS lead to worse results. COnsiderably worse. The examples I've given (Research Indicates's Trespasser LP http://lparchive.org/Jurassic-Park-Trespasser
/ ), Geop's Ass Creed stuff (http://lparchive.org/Assassins-Creed
/ sequel also archived), DocFuture's Sonic 2 Special Edition (seriously, take a look at it http://lparchive.org/Sonic-2-Special-Edition
/ ) were really high quality LPs not done with the intention of getting paid. They have better production values than pretty much every single youtube LP done expressly to just get paid and into an affiliate program. It is not just a matter of OMG THEY SOULD OUT. You don't even need super expensive software to capture crap. Fraps, Camstudio, free codecs.
LPing with a camera is genrally bad, but there are exceptions (for example, this pre-youtube monetization LP of the Ouendan games, clever staging of it makes it VERY watchable http://lparchive.org/Osu-Tatakae-Ouendan
/ ) though there have been exceptions (Psychedelic Eyeball and Cybershell parodying that, and Cybershell's Half Life thing.)
Again, my main beef is with LPs where the focus is to get popular just to get paid. I want the LPs to be about the damn games, or to do something INTERESTING with it.