I know this thread is about the console space, but I want to share my 2C anyway (more like $10 if you go by word count :P).
I've been trying out the Geforce Now beta for a few months now. I can say it's both better than I thought it would be, and worse than it should for me to actually consider paying at this point.
I have 100mb fiber and with the latency, it barely fits the 1080p/60 requirements. Luckily, I'm not burdened by data caps; at my max speed it says it might use up to 15GB per hour.
I understand it's not exactly the same service as it is likely to be on consoles, considering it is more centered around leveraging your existing game libraries from other clients (thus sidestepping the "ownership issue" at the moment) or accounts from F2P games, but it works the same in essence: somewhere else in the world there is a piece hardware natively running some software and sending a signal through a cable to a local machine I can play on. It works fine, but that's as far as I'd go. It generally feels more like playing a YT video of a game than a game itself. As such, it's great to see my 2012 work laptop run a demanding game at ultra settings with only minimal input lag; it's fascinating tech in that regard, but still not enough to feel as fluid as native.
The problem is that it's massively dependent on robust infrastructure and straight up physical distance, and the distance part is currently not ideal and I don't expect it to be when even a company as big as Microsoft doesn't currently have local centers to assuage this issue. When that's the case, it's hard to not see it more like a side gimmick I might engage with every now and then instead of a primary platform for play. It's so dependent on factors I have no or little control over that I don't want to be at the whims of the technology. Heck, even stuff like online only in a super connected world can be extremely annoying when poorly supported, which most games still do. If everything else moves to online only like a bunch of Ubi stuff is doing, I can only see even the local option getting worse.
Another problem (so far exclusive to the PC space but might not always be the case) is that I like doing local modifications to these games. Stuff like Football Manager just doesn't work for me without being able to install a bunch of graphic packages (even steam workshop mod solution is lacking on this front), or games like Path of Exile where installing a loot filter and trade macro are essentials to me. Through these streaming services I have no option to modify my local files because well, they are not mine anymore.
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tl;dr: IF gamepass/equivalent proves to be very good value on PC and IF Microsoft/equivalent manages to make the service work better than the competitors, IF they solve the issue of distant servers, and IF my ISP manages to keep up with the requirements or my carrier implements 5G and it's all that, and IF there are some added benefits I can see myself using a streaming solution as an additional option to my local hardware, for select games. I think only a few parts of the world are ready for it atm, and it remains to be seen if the implementation is consumer friendly in terms of content and costs.
That's a lot of big IFs.