If I'm reading the tea leaves correctly, Microsoft might offer a paid service for XBox to stream games rendered with ray tracing. And because it's a subscription, no client HW upgrade required, it's a flat monthly fee (can cancel any time, no large financial commitment), and MS can over-subscribe the GPU hardware to reduce cost.
So it's basically a win/win for everyone that plays non-twitch FPS games. RPG and adventure fans rejoice.
The latency for game-streaming services tends to be gross, even for less fast-paced games. Until someone manages to make a widespread network of small local server farms to keep most people geographically close to a server, that is unlikely to improve much in most areas. And even then, the latency will likely still be unsuitable for something like VR.