The more subscriptions people need to access the content they want, the more likely they are to pirate it instead.
Everyone is talking about "Netflix-like" and "Steam-like", while forgetting that Netflix and Steam grew big not because of their subscription plans, but because they were a single point to access all content.
If game companies are going to do this, then they should just sell their content to Netflix or Microsoft and cash in on that licensing revenue while not having to do any of the work.
I do not understand why companies are choosing to make their own streaming services when they are just money pits that provide minimal benefit.