The gaming industry is moving in the direction of 4K gaming, 120fps Framerates, dolby vision HDR, low input Latency, Oled Local Dimming while expecting the hardware that it's running on to be quite as a mouse. On top of that, they want haptic feedback controllers and new magical 3D audio.
If you understand where Im going with this..... then you get the picture....this is NOT happenings on your smart phone, tablet or watch. Cloud Gaming will be nothing more than a bonus perk such as Xcloud added on the top of the main features that people are actually subscribing for such as Day 1 releases gamepass which most will download onto their hard drives.
We need RemindMe functionality here
Your own list of features does not conflict with cloud streaming at all. In fact it even enhances because all of those features provided by the cloud will allow to run into any small device. I don't really understand people underestimating cloud stream. Sounds like luddites or something. Though the same people said that nobody needs online gaming on consoles, digital libraries won't work because people had slow internet (I remember stuff like how can people download games with 56k) and so on and so on. People even laughted at kinect, while now people are using Amazon Alexa and Apple TV devices.
Server side will improve, more xG towers will be built, client side will be more lightweight and smaller and will do minimal processing while all the heavy lifting will be done by the server to save $ and energy locally.
Society in general is moving towards centralization of computational resources. Servers over local computation.
PS now is a failure, so is Google stadia.
They both failed due to their own issues. PS Now failed due to lack of promotions, small coverage and minimal support. Google Stadia had a very crappy sale model. It would work if it had some integration with Steam aking Geforce Now, but alas.