Multi-stream encoding (the ability of cameras to send more than one stream, and the VMS's ability to use more than one stream for different things) is not a realistic solution for multiple client requests for the same video streams at the same time.
before we get too fine with the details, we need to distinguish “multi-streaming” from multiple connections.
normally when one speaks of multi-streaming, e.g. “camera A supports 3 streams”, we are talking about 3 different resolutions/and or frame-rates being generated by the camera to be delivered over the network to x number of clients.
multiple connections refers to that number of clients , BUT there may only be one “stream” being prepared/compressed/encoded by the camera, which is delivered to multiple cameras via uni or multicast.
the max number of connections is always at least the number of max streams, but often much more, like 10 or more.
this is because there is far less cpu work for a camera that has 3 unicast client connections to a single stream as opposed to 3 unicast client connections to 3 different streams.
so if the clients are requesting the same stream you can get a decent number of connections.