The speed of light and the state of the internet doesn't permit many games to be effectively streamed; even great systems like Nvidia's, optimized to within an inch of their lives, feel laggy and weird for a large chunk of users.
It is more likely that we will see a cambrian explosion of games that obviates the need for big company games in the first place. Big gaming companies are big because they need lots of developers, producers, artists, QA, and management and executive suites to manage those. You can even today get code, assets and QA for a tiny fraction of the price you have to pay humans, and that will apparently only get 'worse' for humans over time. It's going to be a very intriguing next few decades.