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An audience is demand that already exists — which is the hardest part of commerce, already solved. What creators usually lack is the other half: making the thing, holding the inventory, getting it into stores and being paid correctly by more than one party.
A launch that sells out direct proves demand and teaches you nothing about wholesale. Retail buyers ask different questions — case packs, ship windows, margin, reorder rate — and an audience number does not answer any of them.
Each moves a different amount of risk onto you, and the right answer depends on how much inventory risk you can actually carry.
Creator deals routinely involve a brand, a manufacturer, an agency and the creator, splitting one order. Undocumented splits are the most common cause of a payment dispute, and they are unresolvable afterwards because everybody remembers them differently and honestly.
Co-sell splits are recorded on the order and settled to the cent at the same moment, so a four-way split is one settlement rather than four invoices and an argument.