I can't reliably play Dark Souls via Steam Link over a wired connection that's less than ten feet long. Google may have some special sauce that improves the situation but like you I doubt it would be sufficient for all games.
FWIW, I frequently stream PS4 and PC games, wirelessly, over 802.11ac and it's more than playable. Dark Souls III, and even Overwatch, is playable over my network.
I would suggest checking your TV against a latency database: https://displaylag.com/display-database/
Its very possible that your issue is in the TV, as opposed to a network issue. If your TV latency is below 30ms, the TV is probably fine.
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For whatever reason, computer monitors consistently score around 10ms, maybe 15ms in the worst case. Its TVs that have all this processing that kicks the latency to 50ms or 100ms+. Especially on larger TVs.