It's worth remembering that Google tried this with Stadia, with levels of investment unimaginable for a regular startup and a product that was superior in many ways (instant games! no hardware requirements!), and still failed.
Of course you can Monday morning quarterback this and point out Stadia's limitations (weak games library, hurr durr Google Reader, etc), but still, the cards were stacked in their favor and they still couldn't pull it off.
Of course you can Monday morning quarterback this and point out Stadia's limitations (weak games library, hurr durr Google Reader, etc), but still, the cards were stacked in their favor and they still couldn't pull it off.