Briefly, I think both gamers and games-makers will be cautious of this idea. Not buying a console and each game sounds great, but the cost of paying for such high-speed internet would probably wipe out any savings made.
And the subscription model – if it indeed ends up being one – could lead to developers having to bastardize their ideas in order to maximise income. My conclusion:
The ad-laden, endorphin-pumping, lootbox-peddling mobile gaming industry might be considered the canary in a very miserable coal-mine, here. Paying for a games consoles, and the games on it, may not be such a bad thing after all.