Streaming games doesn't really bring up any new concerns for me beyond the general issues that come with all cloud based systems (i.e., everything in the cloud exists only at the whims of someone I have no control over). Just as digital downloads didn't kill off physical releases, streaming won't kill off digital releases or physical releases anytime soon. My only issue with Playstation Now is that the pricing is poorly chosen.
Watching the video you link to, that guy is freaking paranoid. I don't see the majority of his fears having a chance of occurring. Worst that I could see happening is EA releasing a single game as rent only, getting back lash, and then moving away from it.