My experience has always been that I play way worse when reading the chat just because it takes a lot of mental effort to switch between and process two separate streams of information. It's not trivial to respond to jsh's jokes. And if you play at a reasonable rate the 20 second delay will usually make their advice too late. Plus why would I listen to those scrubs in the chat?
In theory, the chat + streamer could form some superior hive mind, but it doesn't really work that way.
I know when I played chess and had some 2400 people watching and giving me advice you think I would be able to crush people with that advice (I'm like 1400 rating). Somehow I would almost always get confused and end up playing worse trying to switch between what they were saying and what I was thinking. I would end up blundering all my pieces. I ended up doing much better when I started ignoring the advice from the masters.
Was really interesting how that happened