In the past, channel editors were able to manage squad stream settings. With the "new" stream together system, only the channel owner is able to send requests, accept/decline them and end the cooperation.
As a channel editor, you will only see "Access denied. You must be the channel owner to use the collaboration panel." in the stream manager.

Why is this important, you may ask:
Especially when streaming on the go or from an unusual location such as a LAN party, streamers tend to not be logged in with their account to manage the collaboration panel.
If you use a stream key to invite someone to stream on your channel, they will have no rights whatsoever, so having a channel manager being able to help in this situation would be beneficial.

With the new lead mod position, it might even be an option to give creators the option to adjust the rights of these mods for things such as managing stream together. I'd suggest to not grant this permission to lead mods by default though for security reasons, channel editors should be able to do so from the get-go.