About the bits, Twitch has a not insignificant amount of underage customers. Defining them as not-funbux would be troublesome. Encouraging cheer wars is fun and positive. Encouraging alternate twitch currency wars is scummy and greedy, not to mention a lot of 13 year olds trying to outbid each other in a battle for Thot Du Jour's attention is... Well, a little conflictive, to say the least. Cheers magically take away that problem, just like how lootboxes are totally absolutely most definitely NOT inducting children into gambling because we SAY THEY'RE NOT, THEY HAVE NO REAL MONETARY VALUE, AND PROVIDE NO POSSIBLE PAYOFF, so you can shut yer cakehole, lawmakers, thanks.
Tl;dr, bits are money converted at a loss. Lootboxes are gambling. But we need kids to spend on this shit so shhhhh. In short, a kid who starts gambling at a young age might actually get some returns, a kid who starts lootboxing/cheering at a young age is simply getting scammed and this somehow makes it better.
About how fucked Phil is, being real, this IS going to be a hit to his income no matter how you spin it. For starters OIC is primarily a funbux whale, not a real money whale. American wheelchairs could ocasionally get bits from ads or some publicity deals and funnel them to Phil. The bulk of his income was still tips, so he'll likely be fine, money wise.
Comfort wise, however, if Twitch ejects him, he is WELL and TRULY fucked. For potentially different reasons, depending on which platform he heads to after. On Youtube, you can have ten different tags active at any time. Switching between them is a one button click. Each tag can have up to 10, maybe more different channels. Each of these can give a dislike, and ban evade on chats. So, in short: Widely disliked streamer with a hatedom in the thousands+Very small cabal of trusted, thoroughly pignotized cucks to mod for him+Some detractors having a type rate of over 140 words per minute+Wide open, hard to moderate chat with super easy and convenient sock account mechanics= Paladin Swagginz swinging his autistic banhammer at full force, but gradually getting overtaken by a hundred little goblins, and figuratively eaten alive. His Twitch chat is already very lowkey detractory. His YT chat would be several times worse.
Phil couldn't even start a chill begment without ten or twenty guys immediately bringing up how he makes thousands a month, others asking where the money's gone, Angry Crows chanting how Khet is getting blacked in a yellow thong CAW, and another ten memeing on how it's WWE champions time and they love it.
If he chooses one of the more hipster platforms like Trovo or Bitwave, the problem is at the starting gate: Not a lot of people will follow. Quality and features will be lacking. His only real options are the big two: Twitch and Youtube. Staying on Twitch as a nothing, not even affiliate, would just spell a hit to his income that he'd have to make up for with increased begging. Staying on Youtube would probably break him mentally, since the trolling could really become unstoppable.