Can a streamer buy an extension product?

This is allowed, as you are charging the streamer.

So streamers can “pay 5 USD a month a get stuff unlocked in the extension for me to use on my channel”

This is not

So you’d normally link such a flow from the configuration panel, offsite to your EBS/other server to handle the payment flows

5.1 Extensions may provide differentiated experiences or functionality to broadcasters, in exchange for compensation from broadcasters. Examples: tiered access to features or purchasable plugins to add functionality.

5.2 refers more to viewers, it’s just missing the explicit term of saying “viewers” and operation inside the extension itself.