I doubt that this would ever happen. But... If it does, I think it would be a good thing. The reason is that it would finally motivate game developers to be more realistic in their minimum hardware requirements, enabling games to be playable on onboard GPUs. Right now, most recent games (for example, many games built on Unreal Engine 5) are unplayable on onboard GPUs. Game and engine devs simply don't bother anymore…
You wish. Games will just be published cloud-only and you can only play them via thin clients.
The economics of it also have issues, as now you have to run a bunch more datacenters full of GPUs, and with an inconsistent usage curve leaving a bunch of them being left idle at any given time. You'd have to charge a subscription to justify that, which the market would not accept.