I'm actually really curious to see how streaming video might work for things like light maps. You could have a beast of a machine, or a cluster, performing real-time raytracing on light and environment maps that then get streamed to the user. Sort of a hybrid approach between on-device rendering and remote gaming systems like Stadia where all the rendering takes place remotely. I think Ben Nolan was working on something like this for CryptoVoxels, but I stopped following him when he went full NFT crazy.
How much to do remotely is a big issue. A big problem with local rendering is that you need more bandwidth to the client than you'd need for video. A big advantage of cloud gaming is that you're in a data center, close to the asset servers with many gigabits of bandwidth.
The big problem with remote rendering is that it costs too much. "Cloud gaming" startups have appeared and disappeared for years now. If they charge too little, they go broke, and if they charge too much, users leave. NVidia cloud gaming is currently $10/month for 6 hour sessions. So is Stadia, now. That's not too bad, but it may be a loss leader. NVidia already doubled their price once. Startups with similar offerings are charging around $45/month.