If you look at the market, this is a pretty small fraction of gaming revenue. Sure these things will continue to exist in competitive format, but a significant majority of gaming is not highly latency-sensitive in this way.

fwiw I like owning my own hardware, but pretending that cloud gaming isn't going to happen because of the single-digit percentage of gamers that absolutely need locality for competition purposes is just ignoring market dynamics -- there's a huge amount of money to be made in cloud gaming and that's really the only thing that matters.