That sounds pretty rational, however it does not mesh with reality of most popular streamers getting literally showered with money. There is definitely some rat

That sounds pretty rational, however it does not mesh with reality of most popular streamers getting literally showered with money. There is definitely some rational subset of population that will stop donating once it's clear the artist has made it. My theory is that when you give money to someone it's a commitment that you like them. And once you like them, you are more likely to contribute more money. I'd wager for top artist this effect will dominate the rational people curbing donations effect.