Consoles may last more 2 or 3 generations before streaming platforms begin to overtake the traditional markets the same way it is overtaking the traditional music and movies/tv shows platforms right now.

Yup, this is the future of gaming. even though I'm not all that crazy about it. It does potentially eliminate a lot of risk for hardware development cost and software sales. I'm interested to see where it goes.

The low end, the casuals....

People that want 4k and the sharpest image quality, and their games to look and play the best (input lag ect) will all still buy physical hardware.
Same with people that have data caps or not the fastest internet... or who live too far from a server farm, makeing the experiance not so great.

No its not, that solution is a half & half solution....
You buy a physical peice of hardware that does half the work (input related) and you stream the visual stuff, so your input lag isnt as big.
That requires specialised hardware to be streamed too, ei not your phone/tablet ect.

This isnt that, this is just they have a machine in a server farm, and it streams to you.
Like all other streaming services atm.

I remember the first time I played PS4 on my xperia phone it was awesome, 2 years ago.

You talk as if 20 years from now internet speeds will be stuck at the same rates as today. In the next 10-20 years the leap in speeds will be huge, just like the leap we saw from 1998-2018 period. This is not something that will happen overnight, but it will certainly grow and solidify in the next 2 decades.

Microsoft has my attention. Interested in seeing how it turns out.

I bet all those gamers who hated on the Power of the Cloud might be eating there hats now.

That was 5 years ago when Microsoft didn't deliver.

Maybe they'll deliver this time around.

I can say latency should be a non-issue. I got Geforce now beta and haven't notice any latency whatsoever, played about 5 hours of doom and 1-2 hours of Batman: arkham knight. The biggest issue atm seems to something called package loss (no clue what this is) which give you game freezes from time to time.

Still looking at PS now, it's gone nowhere and Sony probably lost tons of money investing into it. So streaming will likely fail, but let's see what happens.