I dunno, seems more than plausible to me that cloud rendering/gaming will def. be a big part if not THE direction that games will be going, having access to giant ass server/gpu farms that can render everything will probably be cheaper for the average consumer than trying to render locally. We'll see, I'm a pretty die-hard PC gamer all together, still having owned all the consoles, but I believe that streaming is gonna be the inevitable future we'll see.
I can't imagine the super nava-computer we'd need to render The Matrix in 20 years time. The power draw alone.
That's what is happening right now with streaming. You are playing a game on a remote Xbox that resides in a datacenter. But your bottleneck is bandwidth. You could have the entire cloud all to yourself rendering massively detailed images, but the pipe from the datacenter has to be up to the task to bring those large images to your TV quickly. Maybe one day when the speed and bandwidth of the internet surpasses what games require to deliver a native image across the pipes, but I have my doubts. As it is, there is a reason why game streaming is 1080p at best.