Ignoring the GPU pricing issue, It was a really good option for Mac users to play games that don't run on MacOS. One of my friends uses it to play with our friend group.
I also used it to play higher end games because my gpu is too weak to reliably play them, but my internet is fast enough to where streaming doesn't cause any issues. (and I am not interested in paying for a gpu upgrade when I don't regularly play high end games)
Imo, if you ignore the surrounding context, it's a great option if you don't want to pay exorbitant prices for GPUs just to play a modern game.
The real issue is that this problem was artificially manufactured by the companies offering the solution and is guaranteed to enshittify in the name of greed, as seen here.
As per usual, we can't have nice things because of capitalism.