Yes I realize that video and streaming services increases the number of eyes on the game. Yes I realize that increases the likelihood that a human being is going to spot an overt copyright/trademark/IP violation. Yes I realize that increases the likelihood an IP holder and/or NCSoft may become aware of said violation.
But what I also realize is that the courts don't really care that those violations exist. They care what the service holder (Homecoming in this case) have in place to dissuade and prevent such violations. I also know that Homecoming has a policy in place that prohibits it that's pretty standard for similar services. I'm also aware that they actively enforce it, and can almost definitely prove that they actively enforce it. I'm also aware that this is almost definitely what NCSoft actually cares about, as well as most other IP holders. Because they're concerned with the legality of it and protecting their claims/rights, not the mere existence of violations, for the most part. (Yes exceptions exist, even high profile ones, but as a general rule this appears to be the case.)
I'm also admittedly under the assumption that Homecoming is under NDA due to legal negotiations with NCSoft, and that the streaming policy was originally put in place under the direction of NCSoft and that the policy was changed has NCSoft's blessing. AKA very low risk.
While that last part is a lot of assumptions, I think those assumptions are pretty well substantiated based on information the Homecoming team themselves have released and a vague, general understanding of what it means to be in legal negotiations with a large corporation.
Homecoming is never going to "got the IP back in full" - they never had it. That belongs to NCSoft and they've made it clear they're not interested in selling it. What they are most probably working to get is a license to use that IP to continue to keep the Homecoming servers running in a legal way. Further I'm not sure what 'other problems' could possibly pop up from allowing streaming of the game under the approval of the IP holder, but hey, that is an assumption of mine. I just haven't seen an ounce of credible evidence to challenge said assumption.
Unless you mean NCSoft getting their IP back, in which case... what? They never lost it. They might have come under risk of a challenge against it due to the source code for the server being released publicly, but they came down pretty hard on that with C&Ds to protect their claim.
Lastly, I understand that the admittedly assumed NDA prevents the Homecoming team from talking about anything related to the legal negotiations, including confirming any aspect thereof, without explicit prior approval from NCSoft. And that they're almost definitely erring on the side of extreme caution to not put said negotiations under any risk. Some-to-many NDAs prohibit even overtly acknowledging the NDA exists.
That is why I'm like this.