FRANKU THEORY

<< The plot takes place in an alternate reality that used to be a universe, but is now some sort of multiverse (dubbed "Omniverse" by the characters, and "Frankiverse" by the fans) divided into multiple universes known as "Realms", which in turn are divided into dimensions. When the Frankiverse turned into a multiverse, Planet Earth was divided into many Realms, but most of it ended up on Realm 6.2 (where most of the videos take place).
Before The Dark Lord Chin Chin arrived on the Omniverse, Earth was relatively more "normal". Those were the times of the DizastaMusic Pre-Filthy Frank videos ('Lil Jon falls off a table', 'TEMPURA BOYZ', etc), when the channel was hosted by George Miller, a young student who uploaded videos of his quirky life on Youtube.
It's important to note that, in the Omniverse, time is measured in Chromosomes, which also happen to be the main currency, an important compound of the fabric of space, and some sort of food ingredient.
At some point, around the time between the videos "Never trust a horse" and "Filthy Shit", there was an apocalypse caused by the arrival of a deity known as "The Dark Lord Chin Chin", who began to spread infected Chromosomes throughout the Realms. Most humans died, hid, or found a way to flee from the Frankiverse, causing most Realms to become abandoned.
Most of the humans that decided to stay in the Realms were infected by Chin Chin's Chromosomes and mutated, becoming Lycra People, weird beings who cannot generate their own Chromosomes. Since any living thing in the Omniverse requires Chromosomes to survive, most Lycra People prefer to stay close to some unmutated humans, because they can generate their own Chromosomes with their bodies, via performing the most cancerous, autistic, bizarre, stupid, and/or retarded acts possible. However, now that Chin Chin reigns over the multiverse, it's mandatory to perform daily sacrifices of Chromosomes for the Dark Lord.
It's implied that George Miller fled the Omniverse (to later become PinkOmega), and gave control over the channel to Filthy Frank, one of the unmutated humans that stayed in Realm 6.2, who lost a coin-flip bet with Mr Negi, and thus was doomed to "act like a total fucking retard on the internet" for the rest of his life. And so he did.
Recently, Chin Chin demanded the Filthy Frank fanbase to give him the 2015's annual sacrifices, but Frank delivered them too late, and the Dark Lord responded by trapping him on the Ricefields (Realm 0), and trapping his friends (Pink Guy, Red Dick, Shaman, etc) in a -probably- Fake Realm, along with a Fake Frank, convincing most of them that he was the real one, and that they were all safe back at their real home. But Pink Guy and Red Dick know that none of that is true, so they're trying to guide Real Frank to where they are, using the scent of sriracha shrimp. Meanwhile, Frank found a Salamander Man summoning flute, and used it to summon him so that he could help him find his way out of the Ricefields. Right now, Real Frank and Salamander Man are following the sriracha shrimp scent, making their way towards the -probably- Fake Realm where their friends are trapped, where they're gonna have to confront Fake Frank, Chin Chin, and probably the Peace ^ Lords.
If my theories are right, Fake Frank is the one in control of the channel since "CHIN CHIN SACRIFICE 2015 - FRANK'S JOURNEY", which explains the absence of Pink Guy and Red Dick in most of the videos since then, because they don't wanna get near any Frank that is not the real one. >>