I think the problem with the console games has always been that the development of their scenes was not organic. MLG dropped Halo almost immediately (or possibly as a result of) after Microsoft stopped sponsoring it.
Smash and Street Fighter on the other hand, have developed somewhat organically and Smash is starting to grow in spite of Nintendo (or at least Nintendo's decision making 5 years ago).
I wish there was more Smash content on Twitch, because the game is incredible to watch.
Smash is very difficult to stream, with the two biggest factors being that it's not on a computer and the lack of built-in PvP in Melee and Project M. GIMR of VGBC is doing some very innovative things, though.
Smash and Street Fighter on the other hand, have developed somewhat organically and Smash is starting to grow in spite of Nintendo (or at least Nintendo's decision making 5 years ago).
I wish there was more Smash content on Twitch, because the game is incredible to watch.