Problem and Solutions
Xamarin.Android don't play video stream using LibVlc in android studio ?
By M.K. Verma · 4 May 2022

In addition to cube45's answer, m3u8 are played differently than regular media...
var libVLC = new LibVLC();
var media = new Media(libVLC, "https://s2.moidom-stream.ru/s/public/0000000087.m3u8", FromType.FromLocation);
await media.Parse(MediaParseOptions.ParseNetwork);
var mp = new MediaPlayer(media.SubItems.First());
mp.Play();