I was thinking (a few years ago) about a similar category but the only requirement is to get the maximum amount of star coins. Avoiding power-ups is not necessary because some star coins are achieved by using some of them (such as blue shell, mini-mushroom or the giant mushroom).
About spending stars, I take the example of the World 5. After the Fortress, spend 5 stars on the alternative path (5-B and 5-C). Get 3 coins in each level and you have recovered the five spent +1 (6).
Finally, for fun, it would be nice to run this mode with no deaths. It is a casual way to run the game but is another mode to complete it.
Earlier today, Twitch has that they are "implementing a 100 hour storage limit for Highlights & Uploads starting 4/19." There is a 2 month grace period for people with highlights on their channel to be able to download their highlig