It's an interesting theory and, while I'm certain both sides could have some pros and cons to offer, it's probably not going to be an issue. Streaming, even if it did become a particularly mainstream method of gaming, just isn't where it needs to be for it to make as much money as the standard game industry at this point. Too many people enjoy having their disc and content services like Steam will more or less ensure that streaming is, frankly, a bit of a pointless endeavor. This isn't even counting the fact that many, many people have terrible net connections.
One also needs to take into account that of all three console companies, only Sony, to date, has been truly burned by the idea of going completely digital in a device. While the PSPGo was not a streaming device, it showed reasonably well that people are not going to pay out a lot of money for a device that simply allows you to play games that you have no physical media for and that you technically do not own. In fact, streaming is worse because you have to pay, every month, just to have the privilege of being able to temporarily rent games long enough to finish them. You don't even have the luxury of PSN's 'buy and download at will' way of doing things. At least that feels like ownership.
All in all, innovation is one thing, but considering Sony's dire financial straits? I don't think taking the road that potentially cuts their own throats would be the most lucrative or stable venture. They've made some bad decisions, certainly, but this just feels like it would be one of their most epic blunders to date if they went that way and I can't see them doing it.
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