Ask HN: Why is there no P2P streaming protocol like BitTorrent?

I've been wondering if anyone knows why there is no P2P protocol for mass live stream content in decent quality? specifically what are the technical limitations or is it mostly that people don't want to get destroyed by media company lawyers? I've searched around for a while and i cant find anything like that that can handle thousands of people streaming. The closest is probably Webrtc and that looks like it can only handle 500~ peers. I was thinking most people nowaday have at least 30mbps upload and a 1080p stream only needs ~10mbps and 720p needs ~5ish. Also i think it wouldnt have to be live, people would definitely not mind some amount of lag. I was thinking the big O for packets propagating out in the network should be Log(N) since if a master is sharing the content then is connected to 10 slaves, then those connected to 10 other slaves and so on. The other limitation I could think of is prioritizing who gets the packets first since there's a lot of people with 1gbs connections ... Read full article.