I view it a bit like I do cloud gaming, 90% of the time I'm fine with local use, but sometimes it's just more cost effective to offload the cost of hardware to someone else. But it's not an all-or-nothing decision.

Yep, if you just want to play one or two games at 4k HDR etc. it's a lot cheaper to pay 22€ for GeForce Now Ultimate vs. getting a whole-ass gaming PC capable of the same.