I believe it's even more bleak than that. My theory/prediction:
Once these companies manage to make game streaming a reality, my guess is that they will scale back their consumer GPU divisions without hesitation. The goal is for us to ultimately own nothing. Software is already leased to us (you don't technically own the games in your steam or epic library). The end game is for hardware to be that way as well.Until then, we're going to see most people priced out of consumer hardware.
If game streaming services become a reality (I'm talking about a situation where latency and data transfer are less of an issue), they will be positioned as a revolution in entertainment that deliver high-end gaming performance to the masses. As the technology matures, we will see multiple services take hold. It will be like Netflix/Hulu/prime/peacock/etc. but Blizzard/Steam/Epic/Ubisoft/etc. Essentially we will have to pay the equivalent of a new PC/Console price tag every year to rent hardware.
Ironically, what holds this back in today's world is the greed and shitty infrastructure that's offered by US ISPs.
How much do you want to bet that she gets blamed for Harris losing Michigan on Tuesday? Hell, they'll probably blame the whole election loss on her if Trump wins. I can't think of a braver politician in congress right now and yet she's treated like dogshit.