I definitely am not in a position to speak from a legal perspective or on behalf of Twitch, but as a fellow creator who didn't want to fully wipe my content, here are some handy tips and creative ideas that might help retain at least some of the content on your channel (a thread)

I used @CommanderRoot's tool to remove all clips below 10 views and will manually sort through the rest with the help of my moderator. For scale, it's removed ~3000 clips for me going back to 2016. From there, we'll manually review each one and keep what I feel is safe. (1)

I realize I'm a small, part-time streamer. If you're a larger / full-time streamer, you can set the threshold higher so there's less to parse through. His tool is SUPER customizable (you can also keep anything YOU made, regardless of size) and I'd highly recommend it.

If you're not able/interested in scanning all VODs for potential content, you can still export to YouTube as "private" so the content isn't lost and you have time to review. There are also bulk download tools, but I know you may not have the bandwidth/disk space to do this. (2)

I'll sort, download, and compile recent clips into "highlight" videos which I'll upload so people still have content to watch that shows my personality and content if they visit while I'm offline. Bonus: This is a good time to make that channel trailer if you haven't already! (3)

If you have content on YouTube that's edited from your longer streams with potential infringing content gone, you also have the ability to upload past Let's Play series to Twitch and store them into collections! (4)

This may not be helpful but just in case, I know many of us are sad about the idea of losing video history and these are just some creative (albeit work-required) solutions to show the best and brightest versions of your content for new and returning viewers.