You vastly overestimate the value and importance of services like Gamespass or Stadia. Video games are not movies/tv. A "Netflix" like model is not going to work in the long run, thats not what consumers want.
I'm not sure this is true anymore. PS Plus basically came from nowhere and established itself solely on the basis of offering a great subscription value for games in the PS3/PSP/Vita eras. It wasn't until PS4 came around that it became required for online play.
So, believe it or not, Sony sort of pioneered this trend. And it became the original basis of their most popular video game subscription service for a few years.
I actually bought a PS3 and a Vita solely due to this subscription model - and it was worth it. And how many times to you see that people say "I'll wait until it's released on PS Plus or discounted" before buying an indie game?
If Microsoft subsidizes the cost of a console with a Gamepass subscription - something similar to what they did on xbox 360 with live - I think you'll see many people going this route to be the main way they consume video games in those ecosystems.
Plus, it can benefit developers as well. It's commonly known that Rocket League would not have been nearly as successful if it didn't debut as a PS Plus title. I think GamePass is basically the same idea but beefed up.
We have already been going this way for a while. Whether streaming takes off or not, however, is anyone's guess.