Streaming and streamers want to do multi resolution streaming.

Aaah. I assumed that for that kind of thing Twitch did the transcoding.

Twitch did in the past (mostly), but it is trying pivot at the moment: Take tight control over the encoding settings on the client side and just pass the already encoded stream through the CDN. https://help.twitch.tv/s/article/multiple-encodes

Also having different encoding settings for different purposes is desired (e.g. high quality local recording for an edit later while live streaming to different services at the same time [Twitch, Youtube, ...]).

That said, I'm not aware of Intel limiting the number of encoding streams, so I don't know where the number 2 originates.