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I admit console gaming is a dinosaur on it's last legs, but I don't see "streaming" as being the thing that kills it. In fact, it could very well transform through innovation as Nintendo has been trying to make happen. In fact, I don't even see how cloud gaming/streaming will even affect the console industry.

I personally think that the console industry is outdated, but oldschoolers from both the industry and the general public are keeping it alive because it's what they're used to.

I think the far bigger threat to the console industry is the stagnation of graphics. There's not much gain in graphics anymore from one generation to the next, so eventually consoles will become irrelevant.