I made a similar thread before, but I think the next step to improve PS Now is to leverage all their entertainment pillars, while using their gaming heritage/prestige to add unrivaled value proposition. It does start with adding their back catalog of PS1/PS2/PS3 games though. I think this will happen eventually, I'd say when Sony upgrades their servers and expands into different countries.
I do think the endgame (whenever that may be) looks something like:
1) Day and date first party releases + third party releases on PS Now
2) Complete BC with every Playstation including the PSP/Vita + VR
3) Sony Pictures day and date releases
4) Complete back catalog of Sony Pictures (movies & television), anime from Aniplex, as well as movies from Playstation Productions included
5) Some benefits from Sony Music (IE. perhaps a subscription to Spotify is included)
It essentially matches Game Pass biggest draw factor (day and date releases) while adding value that other publishers/platform holders can't match. It's similar to Amazon Prime in terms of value proposition & variety of content. This is all without considering how Sony is going to use their 18+ Billion to strengthen their entertainment division in the next three years. If Sony is serious about having anywhere close to 1+ Billion people using their services, this sort of package is the way to go to reach that number, along with a push for mobile gaming, IMO.
With the recent Bloomberg article about Netflix looking to expand into gaming, I'm certain the future for PS Now will be a subscription based service that includes games + movies + television + music + anime. Sony is in the best position to pull this off in the long run & have the capital to enhance their entertainment offerings.