Not sure about degradation of the feed, but periscope is pretty neat. Everyone is a live broadcaster. Obviously they need to figure out the search, etc., but this will be a nightmare for sports franchises at some point down the road...
During the Dead Fare Thee Well shows in Chicago I was watching Periscope feeds on my TV / Stereo (via Apple TV). It was pretty crazy, live video right from the floor of the show.
The kids these days...