you do know it doesn't need "huge data requirements". it's basically just about the same as watching a video on youtube. the difference being you need to send a bit more upload data (your inputs etc).
if you had actually played a streaming service then latency isn't really an issue. it's good enough. sure if you were playing a game on PC with a kb/m then yeah but most people are playing with a controller and a TV jacked up on crap that adds "tons of latency". you'll never notice the difference.
i've used PS now, geforce now, xcloud, stadia, and have had perfectly fine gaming experiences. if internet is the issue then that's on you. you should maybe look into a better ISP.
I do agree that based on your internet speed the experience can work great.
But not everybody has fiber connexions, nor use wired ethernet cable, nor live alone.
About 3 years ago the fiber was not possible where I live (no matter the ISP) and now in my country about 1/3 has access to a fiber connexion.
Then there's the Wifi problem (although it can be solved thanks to wifi6) wifi introduce more lag and less bandwidth.
Then there's the problem of not living alone, a friend of mine has 5 roommates if they are all there then his bandwidth tanks.
I know some of these problems don't affect you like they don't affect me, but they're nonetheless problems that some a experimenting.
And even worse some can't be solved by the user( not being connected with fiber or the ISP only providing a wifi5 internet box or having roommates), some of these problems can be more or less detrimental to the experience but they are detrimental.
The tehcnology works well but those problems need to be solved mostly by ISP and for most ISP if you live in a not crowded enough area won't have a financial gain to provide fiber for example.