I deeply worry this means we'll lose the affordable console market as consumers. I have the disposable income to buy expensive PC parts, but I still found myself preferring game on console for a number of reasons. Especially shitty because of how dog water Windows is.
It also likely means the death of physical media entirely in the gaming space, which I absolutely hate. I also worry about Sony moving onto PC with insanely bad launchers and DRM I know people feel like this means they'll get more things, but having hardware companies compete on software mattered.
Microsoft just giving up hardware, and just selling expensive Xbox branded handheld Windows PCs sucks. Sony trying to convert into a live service publisher blows more chunks than I can express. Nintendo having an actual monopoly on that space will also just keep getting worse.