Here's my quick and dirty reasoning for not watching:
1) As others have said, time is a huge factor. I LOVE CoS and never miss it unless I can't help it. After 4 hours of that I can't possibly spend more time watching streams, especially when it starts late (I'm in the most easternly time zone in NA, NL time, so it starts at 10:30pm for me. Too late on a weekday). I also don't think the move to Sundays this month will help, it's during prime-time on a Sunday which clashes with the huge shows on TV right now (Walking Dead, Westworld, Game of Thrones, etc, etc) Competing for that spot is gonna be tough. It's a solution for the "2 Rollplay shows on 1 day" but not factoring in the draw of other major network TV shows.
2) Content. Blades has a very cool setting BUT the ruleset, gameplay, etc is just not conducive to fun watching. It's very dry? I tried super hard to get into it but I find myself drifting away with the monotonous tone of the game (and cast). A lot of people like to watch fun combat with exciting situations/RP moments which I find is too few and far-between in Blades.
3) Charisma. I find there's a total lack of charisma by the cast making it incredibly hard to watch. It's too monotonous, too...shallow? I just feel like everyone is "sort of" playing their characters but not fully into it. It's a very dark show which I understand is apart of Blades' world but, for me, it's just not enough to keep my attention that late at night. I kind of wish it was more light-hearted and adventurous. I think this really showed when Adam was on briefly, the game was so much more interesting with him in the mix... I like all the cast individually but I feel like something's missing when they are all together.
Most of this is probably because of the type of game it is and not that it's bad as a whole. I'll admit I am much more a fan of fantasy/D&D than I am other types of tabletop RPGs. I find the rules and "getting into a scene" is a lot easier in D&D than in Blades. In D&D everything is pretty clear, they are a group who travels together, exploring a rich world and attempting to stop whatever conflicts arise, which enhances RP moments and means they are always working together to some capacity. It's simpler and thus easier to focus on the main storylines or incidents happening before us. Blades is more complicated compared to that, from Ep 1 I never really got into it and felt like missing an episode means you are super lost. With CoS I feel like I can miss an episode and still hop right back in because a lot of the fun in that show is combat (good or bad, it's fun to see crits as much as crit fails lol) and Adam makes each episodes "focus" very easy to follow.
Nebula Jazz and CoS are so much more fun and interesting to me so I think I'll be sticking to those.