If he were to rebrand to food, it'd have to be a cooking channel, or rather a learning to cook channel. THAT would be good shit.
It's not like people never tried to convince him of anything else than to do the boring ass show he puts up on a daily basis but he can't even be convinced to do anything else than what he's already comfortable with. Every uncertainty outside of what's already right at hand needs costly green validation ($) and a guaranteed easy/lazy method. I'd argue he's even more willing to do something extremely lazy than to make money, because he can still blame the audience and take a victim-stance if his additional work of going far and beyond (by doing the bare minimum) fails.
Phil is a professional victim and a master of excuses to prevent any effort. Nevermind he's not risking anything if he just tries but he needs the guaranteed beggar's cash to satisfy his addictions. He could easily abort the idea for any reason but he "doesn't even try and is already out of ideas" (quote: Simpsons).
Take that one and the sheer fact he's afraid to show weaknesses as he sells himself as the all-wise and better than anyone else mature adult. Strong individuals have no weaknesses, every 12 year old fanfic author knows this. Phil obviously needs to flex, he's an insecure baby who turns, accelerates and breaks on sheer emotions and builds a construct of bend facts and twisted opinions to argue for these often toxic hateful emotions. It's impossible to argue with such a person as it's your fault for why he can't do anything anyway, but he did nothing wrong.
This fuck can't even be bothered to order a new cheap greenscreen (he's a master of ordering but only if it's easy to eat /wear). That's just too much work! And his PC isn't strong enough! And he has no money to do it! And it has no value! And nobody wants that anyway! He has no space (but empty boxes do)! He doesn't know how to do that, you'd have to handhold him through the whole process! And if you ask for a GS then you're entitled and an idiot! And people would complain anyway, they don't like it, moving the goalpost constantly! Also you like his existing layout and background! Nobody can process a sudden drastic change of his brand!
Oh but the 12th vest nobody asked for? Sure, here we go.
Of course he won't cook anything. He literally said that nobody would be interested because he can't cook (completely missing the point that this learning process is the entertainment). Cooking with the King was just for fun, but aborted bc everything is about money now, obviously. So boring, no imagination, no creative bone in his body.
Imagine his usual excuses which he may or may not have used in this context: I'm a streamer now, this is not who I am anymore! I don't have time for that! People just want to make fun of me! If you want to laugh at my cooking skills then you're a mouth-drooling reee... idiot! Trolls want to see if they find something new in my kitchen! Imagine if Khet comes home and I bother her, she just wants to relax and have a good time! I don' t have time to clean dishes! I don't have the money to do it! Nobody wants that except YOU *points finger*!
Yes he would probably make an enormous pile of money but his ego and comfort is even more important.