Nobody sets out to build a fragmented streaming stack. It gets built one launch at a time: an encoding vendor picked for a first live event, a CMS added when the content library outgrew a spreadsheet, a DRM provider brought in for one licensing deal, an analytics tool added because the CMS vendor’s reporting wasn’t good enough, an ad server bolted on when monetization became a priority. Every one of those decisions made sense in isolation, made by different people, at different times, solving different problems.