Web servers have definitely moved from on-premises to the cloud, but there are also things that haven't, and a lot of that was because of consumer pushback. Google Stadia was a flop, even though it was being talked about like it was a foregone conclusion that no one would want/need a console after Stadia came out.

I think that what workerONE is saying is probably right: the industry will let you own a powerful device (probably a heavily locked-down phone), and they'll still be able to charge you for access to cloud storage and services. That's the most profitable thing for them to do (and of course anti-consumer), so they'll do it. They won't need to prevent you from owning hardware, they can just charge you a monthly fee anyway, even though you have access to hardware yourself. The restrictive phone OS means you won't even be able to do much with that powerful CPU in your pocket.