Unlike SuperstarSaga DX and Bowser's Inside Story DX, Dream team when we extract the rom, the music folder does not contain any bcstm, instead it is only one file, called: SoundData.arc , does it mean dream team uses sequenced music instead of streamed?

This doesn't mean anything.

Even if it wasn't streamed audio the audio data would be in a bcsar file and not an arc file.

Arc is just a compressed archive that you can extract, probably then containing the bcsar and bcstm files.
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