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I don't think its frowned upon by the community, rather its frowned upon by those that own the streaming sites since they aren't getting a cut. Although, there's ways to incorporate Bitcoin into the streaming site, and allow a cut very much like you would with traditional currencies. 
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I don't mind advertisements, as long as they aren't the usual drab. A few places actually do advertisements well, but its not common practice. Its usually using the business model of lets make as much money as possible, and we don't care what we advertise, which is something that I can't agree on. Adverts should be handpicked, and relevant to a websites users. No advert that is unrelated should be displayed. ~
I personally don't think its a good idea right now. Not in its current climate, because I'm just trying to think of the demographic of Bitcoin. Most of its users prefer privacy, and tend to stay away from revealing their identity. I suppose streaming doesn't always have to reveal your identity though. That's not suggesting that Bitcoin's demographic wont change down the line though.