The big problem seems to be that with current interest rates, breaking into cloud gaming with a whole new platform is just not profitable.
It stopped Google and now it's looking like it's stopping Netflix.
Gamers just don't want to spend money on new platforms or platforms where their friends aren't.
It's a shame to some degree because Stadia was a cheat free paradise. There will always be latency concerns but I think streamed competitive gaming has a future, particularly as kernel anticheat fails to deliver and high end hardware gets more and more expensive.