Seems promising. The strict SFW policies might hit the wall against lets say real outdoor live streaming where swearing is heard. Or if its for people streaming protests (HK) where there is police violence and people hurt. Hopefully the definition of Safe for Work might also include "...or where such content might reasonably be likely to be seen on a mainstream media's news show".
They haven't really figured out the technical challenge of regular video playback yet - hopefully they've outsourced the streaming technology instead of building it in-house.