I don't see how this is that bad. It's pretty obvious that Google has given up on Google+. Admittedly, the copyright laws and stuff coming into play isn't great but I think it's a good trade off for getting what I assume will be a much better service. I'm quite excited that such a big company, outside of gaming in its main functions, is getting involved with eSports. The fact that Google own YouTube as well could be very good for twitch.tv if they handle it properly. Imagine the huge market of kids who watch YouTube xXxMLG-420xXx montages but have never watched a game on twitch.tv, if there is some kind of two way integration then twitch traffic will increase.
Google are much better equipped to handle how big twitch.tv is becoming. They have the ability to create a mobile app which is actually good... and I constantly hear of issues with streams lagging and VODs being a pain in the arse to watch because of how stupidly they load. (Imagine if VODs were automatically handled by Youtube?). Stuffs going to change no doubt, hopefully Google handle it well and their support benefits the eSports community as a whole.
(i hate the word eSports, but i couldn't think of a better one to use)