This (Re: GaaS).
If games are ever primarily offered only as a streaming service & no longer offer local (whether optical or digital) based content any longer...that is the exact moment I walk away from gaming.
Every company on the planet wants to squeeze gamers like they are human ATMs & one of the ways is by roping people into monthly subscription style services. While I'm happy to pay for an inexpensive service like Netflix to watch disposable/one viewing shows & movies, I'll never be comfortable with a sub model for streamed games. Gaming is qualitatively different to me. I dont view games in the same way as I view most movies/TV shows. To me, games themselves are collectables. In this sense, I'm definitely not the target demo for some of the current services that various companies are trying out. To my tastes, Playstation Now is a train-wreck with that pricing model. Services like EAs vault are slightly more tolerable since the pricing is more reasonable & we at least have content stored on a local machine. But ultimately the purpose is the same: To tie gamers to a monthly payment system in perpetuity rather & break away from the traditional one & done purchase model.
The trends are obviously there as some % of gamers obviously dont mind or even like this sort of service. But count me out.
As to the OP, I think there's a lot of merit to his points in the long run. Microsoft does seem to be moving towards a model where games you purchase can be played on several different devices (an idea I do actually like). We can also gather from rumors that Nintendo is headed this general direction. But I'm still not convinced we are close to the traditional console being phased out anytime soon. As much as Steam has helped streamline PC gaming, its still too complicated & fraught with technical problems for the average person. Soccer moms, Joe Sixpack & dude-bros still have trouble figuring out how to set the clock on the proverbial "VCR". If a product is not dead simple & reliable 99.99% of the time most peoples' eyes glaze over & they'll tune out & never consider buying it. Consoles bridge the gap between technically oriented PC gamers & casuals who consider downloading & playing Candy Crush to push the limits of their patience/understanding of such technical wizardry. Can PCs get to the point they fill that gap themselves & make consoles redundant? Well, Win10 certainly seems partly aimed at doing just that. But, so was Win 8.1 & we all saw how that went. Win 10 is still Windows. And PCs still have literally thousands of different combinations of hardware that by its very nature means it cannot be as easy/simple/reliable as a console with a single, tightly controlled hardware/software platform. There's also the challenge of promoting a market of various branded Steam machines, for example. This is inherently different & more decentralized than marketing a console with one brand that people can easily grasp. This doesn't mean its impossible. After all, people have adapted to there being multiple brands of Android tablets. Not everyone needs the absolute simplicity of Apple's walled garden. So, maybe "PCs as console killers" could happen in the long run. But ease of use, even with MS trying hard on the tile OS, is still a major hurdle. It also seems to me that over the past 18 months, Sony's hardware oriented console approach to get people into their ecosystem is one of the only things they've been able to make money off of (other than insurance). Would they be able to accomplish the same thing if there were essentially several brands of PS4s running the Sony OS? Sony does seem to understand the trend of GaaS by trying things like PSNow. And producing Powers is obviously their attempt to value add to PS+ & bring in cord-cutters a la Netflix, Hulu, Amazon, etc.... But I'm not convinced PSNow can succeed without major changes to its pricing model &, more importantly, major improvements to the internet infrastructure in the US...which isn't going to be happening for at least several years. Streaming a non-interactive TV show in HD is one thing. Reliably streaming 30-50gb interactive games to a similar sized audience is another. Its a whole different set of technical challenges.
TLDR: For at least the next few years, there are several technical & marketing reasons why I cant see Sony or MS being able to keep consumers focused on XBLA/PS+/PSNow/etc... if there are, say, 5-10 different brands of Xbox or Sony OS PCs out there pushing non-localized, subscription based entertainment as their only revenue streams. PCs are still too complicated & unreliable for mass, casual adoption & I don't see Win10 changing that significantly. And US internet infrastructure is ridiculously too slow for millions of US consumers to make this a reality (& there are political dysfunction & corporate monopoly realities standing in the way of changing this anytime soon). As such I still see traditional consoles with local hardware/games as the best option for many/most consumers for at least one more generation.