This is going exactly as planned by big tech.
They dont want you to own your own hardware. They dont want local storage. They want to control EVERYTHING.
When personal computing is expensive enough, they will offer remote access to their server space, where you rent some specs and the screen (your computer access) is projected to you via internet.
Then they'll earn the subscription money, and they own every single log file and data on "your" computer.
As soon as this is the cheapest option by a margin, they WILL get costumers. No doubt. And it's awful.
Jeff Bezos even said this publicly, that this is the goal.