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Well: if the claim is that console gaming will be replaced by phone games, then I think they are seriously overestimating the phone market/underestimating the console market.

Is Youtube a threat to traditional movies or series? Why not? I mean, I can get great, ten-minute snippets of entertainement, all for free.

Mobile phone gaming has been here since the late nineties - it may have grown up, but it's not taking over.

However, if the claim is that streaming devices will take over: Well, that is certainly possible, but it depends largely on the ability to buid an infrastructure that can handle it. Both in terms of network, and server capability.