Full pre-rendered VR streaming would need to ship video of the entire environment for both eyes (or a reasonably large subset), and the client would be responsible for rendering your point of view. There'd be no latency that way, but the bandwidth needs would be significant given 4K per eye and a 90-degree FOV. That's on the order of 16K per eye, or 32K @ 120Hz video for static location. Add on some extra bandwidth for volumetric video to support position tracking, and you're looking at some even sillier numbers. Granted, a headset might spontaneously combust with that kind of data rate.
AirLink actually works really well for me, but it does need a clean 5Ghz channel with nothing else on it. Any other device that is connected (even if it's not doing anything) will cause stutters. I have a separate Unifi 6 Lite AP hanging right above my head for it with a separate SSID.
But latency does not seem bad enough there to worry about. Not everyone is as sensitive to that anyway and once you have your VR legs it becomes even easier.
I prefer local computing over streaming anyway. But like I said for travelling it might be a great option.