So long as I can still purchase a local copy of a game, I'm ok with streaming. The moment a game is released that is "streaming only", then I worry for all the reasons you listed.
"On two occasions, I have been asked [by members of Parliament], 'Pray, Mr. Babbage, if you put into the machine wrong figures, will the right answers come out?' I am not able to rightly apprehend the kind of confusion of ideas that could provoke such a question." ~ Charles Babbage (1791-1871)