Do you mean to say if a newbie dosent deposit and place a bet after creating an account he/she can't access the livestreaming option of bet365
That's correct. You can't view their streams if you have never deposited money on the site or placed a bet at one point in time.
but I feel in actual sense livestreaming is meant to be free since data is been consumed all the way or could this be another avenue to generate more fund from the site just asking for clarification since I haven't streamed a match using bet365 and might likely consider using it if it's features seem appealing, attractive and affordable
Live streaming isn't free. Don't compare bet365's services to those free and pirated live streams. Bet365 pays money to broadcasters to have access to streamed matches and expects the same from its customers. It's a for-profit organization interested in generating revenue, not a humanitarian organization providing a community service.