Sounds like Onlive (which is doing fairly well, and their service is not bad at all).
I think they beat Onlive to the punch with Facebook integration, and one of two things are gonna happen:
1. Users love the service because it's conveniently available on a widely used social network, it works well and they get to test it without much effort, or
2. All of the above, except they don't love it because they don't fully understand the bandwidth requirements.
Either way, I think there is some good money to be made in this for Gaikai. Props to them.