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It's a good feature but there are issues with it.

-Who wants to let your friends have access to your Xbox Live account? Even family members...
-These games will have to be downloaded to a system, so that will take forever for games such as MGS V which is likely to be 50GB.
-Only one person can play the game at a time. So this is useless especially for multiplayer games.

I think Microsoft knows this feature isn't really that great or else they would have talked about it in their presentation.