It is probably not far off the mark. These giveaway scams you see are actually a template scam. In the Runescape category you will often see fake streams promoting similar giveaway scams. They get your account info and go to work on it.

The reason they are hard to combat is because the giveaway scams are entirely automated. All the person running the operation has to really do is make sure the branding material makes sense for the target demographic and platform.

It makes insane amounts of money. I have done work for many platforms and people would often lose their accounts or value from their accounts falling victim to these scams. multiple people daily for just one type of giveaway scam.

These guys are making piles of cash and without anything more clever there is nothing to stop them. Their automation overwelms any companies abilities to effectively moderate it which is why you see youtube videos, twitter spam, etc. These guys are running entire automation campaigns against multiple platforms at once in multiple categories. Makeup, gaming, crypto. You name a popular category and there is someone out there running giveaway scams for it using similar techniques.

It is nuts. No one really understands the scale of these scams because they only see it from the microcosm of the few things that interest them.