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I think what people are failing to take into consideration is that it does not matter if MS puts their games on other streaming services. Or allows for the option. Because MS will OWN those IPs AND they have the second largest cloud infrastructure of any company (with only Amazon being ahead of them).

If they take a fee for call of duty being on a cloud service that's already less money that cloud service gets. In addition, the cloud service will not have the same competitive capacity as MS due to having less servers overall.

Therefore, MS can undercut all of these cloud gaming companies (as well as any gamepass like subscription models) by the pure fact that they now own (artificially) one of the most popular IPs on the planet. If a service needs 19.99 a month to survive, MS can do it for 17.99. Because they don't have to pay a fee to have access to Call of Duty.

Mark my words, in ten to fifteen years time we are going to see that gaming has become yet another oligopolistic structure, where nothing but the biggest fish can compete.