It may be a relatively niche market, but not all video editing is done in post production. There are use cases for live, on-the-fly video editing and basic compositing. You've seen it done yourself, whether you realize it or not—news broadcasts, live webcasts, and live TV events usually use multiple-camera setups controlled by one central software suite.

OBS Studio (formerly Open Broadcaster Software) is an open source central control room for live, realtime video editing. It features instant encoding using x264 (an open source h.264 encoder) and AAC and streams to services like YouTube, DailyMotion, Twitch, your own streaming server, or just to a file.
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