And they will be. But the China Hero Project stream is for China. The Ratchet State of Play stream is for North America. (Then another cut will be for Europe, and probably another for Japan, etc., much like past State of Plays.) In the North America stream, they will splice in some, probably not all, of the games shown for CHP; the ones that have a likelihood or a contract of release worldwide. If you want to watch CHP and see more games or fuller cuts of games, you can also watch that stream too.
The general PlayStation buyer audience is the target of the State of Play stream.
China Hero Project is too specific to show on even the PlayStation Blog or PS YT page. PlayStation here isn't even acknowledging that there is a China Hero Project stream (in part, because they'll probably be cherry-picking titles from it for State of Play anyway.) Looks like PlayStation.com has never even hosted a CHP or ChinaJoy sizzle reel on the blog, and
only mentioned ChinaJoy existing one time (and they didn't cover Monkey King: Hero Is Back being at that same event, despite that it was published by PlayStation in China and was made by notable studio HexaDrive.) So I agree that it would have been cool for PlayStation to acknowledge and promote China Hero Project worldwide by streaming that show on its own, but it makes sense why they didn't do it that way.