What I'm saying this is not "this or this" dilemma so the whole premise that one unrelated market is going to snuff out another is a fallacy.

Mobile space is a completly different to any kind of PC or console gaming. It's not about buttons, it's the whole thing. You can't get into hardware because profit margins are laughable. You can't compete with Google or Apple on market commission because they have a monopoly. You can't do AAA games because positioning and advertising is a tossup. You're left with trying to get another gacha game which is akin to trying to do another live service game on traditional platforms and we all know how predictable this business is.

I've used portable consoles as an example because years ago argument that they'd be replaced by smartphones had some merit. We now know that was kinda dumb. To replace Xboxes and Playstation you'd have to have tech that's just not there yet and won't be there for the foreseeable future (vast majority of people play FIFA, CoD, Fortnite etc so lag just kills it). People who could put up with deficiencies of streaming are likely not the same ones that game on existing hardware. There will be people who will jump on it if it grows but for different types of experiences, creating new market segment.