It's worth noting that Russell T. Davies (once and future Doctor Who showrunner, among many other huge dramas in the last ten years) has a docudrama miniseries coming up about the UK soap Crossroads, Nolly, featuring Helena Bonham Carter as its long-running star Noele Gordon. IIRC Davies cut his teeth in the business submitting spec scripts for soaps like Crossroads.
I do think soaps can easily have a future on streaming, whether you re-jigger how many days per week, whether it's arc-based, trimmed casts, whatever. Most everything on TV today still springs from soap opera, from the serial drama. GH could do well, as could the currently-defunct main ABC soap brands. The problem in America at least is none of the remaining soaps have demonstrated a true will to change their format or revolutionize their shows or their mindsets. B&B and Y&R have international money propping them up likely for years to come, but overall they all seem to prefer to simply drift towards the abyss on learned apathy and laziness, and fear of losing what they consider their only lasting, shrinking audience that might hasten that drift - aging white seniors. They don't want to thrive, they don't want to recapture a young or minority audience (even the minority audience that continues to stick by them, probably the most loyal of all), they don't want to grow or change or evolve anymore. They are simply surviving and subsisting on the allowance of networks that have nothing to fill their timeslots with. They want to keep the lights on and keep getting paid while doing as little as necessary for as long as possible. That's what it looks like, that's how it feels.
Soaps could change and grow. Here they don't want to. The UK soaps at least have a shot at recovery any time they like because there is still real money and high-level investment behind them over there, no matter how weak they are lately. You don't see Joe Biden showing up on GH like you did QEII on Eastenders shortly before her death.