Arguments in favour of keeping options menu first: "If the game lacks these key options that I need or would like then I'm not going to be interested in playing it anyway so what's the point of even watching the gameplay?

Arguments against keeping options menu first "If the gameplay isn't interesting and as a result I don't intend to buy it then why waste my time showing me the options menu since I'm not going to play it anyway?"

Both are salient. Frankly audience retention statistics are perhaps king here. Can you hook a viewer in and keep em for a decent amount of time and is diving into gameplay earlier a good way to do that? The answer is probably yes but I don't have data to support it yet, so experimentation is required.