Yes, it has live playback with mpv and you can even use it on Livestreams.
And it can also get around the age block without logging in...
The best part is being able to play videos without the bloat of JavaScript
Ytdl is use by other programs as a backend and can so indirectly support streaming rather than downloading; ex. if you have both installed, you can `mpv $YT_URL` and it'll work.