It's not just cloud streaming, but potentially more importantly, cloud streaming of digital library games, which absolutely makes this a platform onto its own.
Sony is trying to tackle the issue of not being able to create a PS5 Switch device by pushing for cloud streaming, which will give them greater subscription concentration. This is probably why they increased the price of PS+ and PS+ Premium to be exact. They also confirmed the ability to stream your digital library, which clearly wouldn't make much sense to do on your own console.
This will be the first major stand-alone streaming hardware on the market. It's clear that with the purchase of iSize, Sony is reading their re-entry into streaming.
Imagine next we'll see PS+ App on Sony TVs and then eventually non-Sony TVs and maybe a Streaming stick with Wifi/Ethernet and the PS+ App and a Dual Sense controller (or maybe sold separately).