Not a fan. If I can't store something on a local storage device, I don't want it. It'll also eliminate preservation done by hobbyists since the files will be stored elsewhere and not obtainable. While I'm sure that's the intent of gaming publishers/developers, the gaming industry is particularly bad when it comes to preservation.
Also, I tried to play some Forza Horizon 5 via cloud on the Xbox Series X and it looked bad limited to 1080p, it didn't feel perticularly responsive, etc. Racing and fighting games don't work well with any kind of latency.