Sometimes it looks worse than the base PS4 and XB1s does.
Ontop of that theres stuttering (audio isnt synced, and will hitch), and input lag (anywhere from like 0,5sec to full 1s).
Your getting a worse experiance than a console does.
Some of this is fixable, if google spends more on the servers, and if people have good enough bandwidth and data caps.
However whats not really fixable is the input delay (it varies on case by case, depending on where you live)
Watch this: https://www.youtube.com/watch?v=o6pf988yFSc&feature=emb_logo
27 secounds into it, he does some input lag testing...... just the eyeball type.
However its so bad, you dont really need equipment to messure it.
You can observe the delay between his key press, and the action ingame.
Its long in this case, like 1+ secound of delay.
That does look unplayable and is a much bigger problem than resolution or low FPS.
Look a bit further where he plays on his phone. It also says in the article that it wasn't a problem on his phone. When you get lower latency through your phone, there's something wrong with your internet connection...