I don't quite "get" cloud gaming. It requires a constant internet connection (a good one), and little to no interruption - no matter the game?
That sounds god awful.
You need a good internet connection. No data caps. And you also need no one else needing to use the internet.
Can you even stream these intense AAA games while someone else wants to watch youtube or netflix?
Good internet is getting more common. I finally got rid of data caps last year and there's no turning back.
My kids can both be watching you tube, downloading patches, streaming music, party chat, while I'm racing online or watching Netflix, all on a 80 mbps connection. You don't have to stream in 4K, that's simply the top tier. For streaming to your phone at home, using it as a switch, much less bandwidth is needed.
It won't be as good as console or PC quality, well perhaps better than the average PC or console, but top end hardware will always beat it. As for latency, if the data center is close enough it can actually be the same as on console since the server has the ability to cut update and render time down considerably to compensate for transmission time. The main problem is stability, but the main advantages are faster loading times, resume play anywhere, no install time, always patched to the latest version. (When it all works, we're not there yet)