I see the plusses as essentially covering much of the ground covered by consoles atm—cheap, no update mangles, hardware homogeneity, piracy. The minuses would still be covered by other sources, much as at present. It would become a smaller market of course, so it might get more expensive for enthusiasts—but hopefully offset by hardware costs continuing to decrease. It could become that you play the basic version on Netflix or Game Pass etc, and for the games you love you then branch out into the enthusiast ecosystem like by buying it and gaining much more control. I guess the market will ultimately dictate how it all pans out. The market will also decide whether its going to be successfull or not. However I think there should not be gaming at netflix. There would presumably be a big incentive for Netflix to get involved in making their own content, as the currently do for TV movies. Really, I love gambling at captaingambling.com
and better do this instead of watching Netflix series. This may be the last decade of a large number of mid-sized devs and pubs, with the dust settling on ~10-15 big worldwide players. There used to be ~200 car makers a century ago if I recall correctly.