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Pav Bhardwaj, senior global product manager for Xbox Game Pass, said in an interview that consoles will continue to play a role in the equation. "Some people are always going to love playing on consoles, having a console in their living room to download and have that experience," Bhardwaj told GI.biz. "I love consoles--[streaming] is just another route, another option to open up gaming to other people."
Bhardwaj went on to say, "It's not that one is a detriment to the other, this is more of a rising tide, and it's a really good place to be in to offer all these different opportunities. There's still PC, and there'll be new form factors that come out in future."
Overall, Bhardwaj said cloud gaming will be a "great alternative" to consoles, not a replacement for them.
"There are different reasons why people don't buy dedicated hardware: affordability, accessibility, maybe they're lapsed gamers or already own devices for other platforms. We really think this is about accessibility and choice," Bhardwaj said.

Xbox Cloud Streaming Won't Replace Consoles, Microsoft Says
Xbox Cloud Gaming is only an "alternative" to the console, not a replacement for it.