You don't need to convince me that streaming is anti-consumer and overall an inferior way of consuming media, I believe it fully.Streaming is incredibly convenient if you have the internet speed. I use it on my Xbox to save space all the time.
In recent years though there has been a lot of pushback from enthusiasts about the idea of licence purchase, ownership and perpetually renting things forever. California recently passed a law meaning that digital storefronts have to make it clear that buyers are only ever purchasing a licence and not at actual product, meaning buyers of plastic discs suddenly have a lot more rights over what they do with infinitely copiable computer code than digital buyers.
In other words there has been a lot to say from the community about having faceless corporations as the sole gatekeepers of software. Look at what has happened with TV: programs disappearing forever to prevent residuals with no physical release. Due to outdated copyright laws to gaming has already become commoditised; do we want a future where we can only play what Microsoft or Google deem their time to be worth?
But I also understand that enthusiasts and those in "the community" are a tiny minority. Most people are sold on the convenience of streaming - no big dollar hardware purchases, no messing with physical discs, nothing to administer and keep updated and backed up; just click and watch/game.
As I said, I think PC gaming will continue to exist basically forever. It's a large enough market, and they tend to be the most willing to spend big bucks. But I think console gaming as we know it (local real-time rendering, offline playing, loss-leader hardware sales) is going to be replaced by streaming within the next ~10 years.
At this point, it's pretty clear there is not going to be another Xbox for local gaming. The PS6 might be the last local-play Playstation if there is even ever a PS6. Nintendo and other mobile-type console gaming will continue to exist. But big budget latest-and-greatest graphics AAA releases will be streaming-only pretty soon.
The last piece of the puzzle is revenue-sharing--how much does Apple charge Sony, Microsoft, nVidia, etc. for the privilege of distributing their apps on the App Store? That's where the fight has been for a while. To that end, I think Apple is fairly well-positioned with the most valuable App Store and constantly on the forefront of implementing the latest Wifi tech. When the business issues are resolved, and Wifi7 is out and adopted en mass, I think the days of unboxing the latest console on Christmas morning will be over.