No, it's a cloud streaming service. You must own the games on Steam, GOG, Epic, or other services to play them remotely on NVIDIA's cloud platform.
The advantage is that the highest tier called Ultimate costs $20/month and gives you access to play remotely on an RTX 4080-equipped rig. The disadvantage is the added network latency and that you don't own the hardware and are limited to 8 hours of uninterrupted gaming before having to sign back in. Also, you have 100 hours of game time included per month.
A computer with such performance would probably be close to $2000. That's 100 months of GeForce Now or 8.3 years. Less if you take the 6 months plan. It sounds quite economical, but there are drawbacks to consider.