This seemed like the obvious move, but let's face it the cloud gaming market isn't a thing and likely won't be a thing. There are only 3 cloud providers big enough to even run services at scale: google, amazon and microsoft. Nvidia's service makes the most sense as a standalone, google didn't have a good business model with stadia and microsoft's is a value add for gamepass.

Overall I don't really see this acquisition changing the landscape of gaming in a major fashion. It seems more like a branding win for microsoft than anything else (well and cod/candycrush seem to print money). Generally speaking I don't think mega mergers are good, and this one could turn sour. For now microsoft is capitulating and more importantly has agreed to not stand in the way of unionization. Top actibliz corpo leadership is likely out as well if it goes through which is another win for the employees. It's hard to view this one as harshly as the recent ones which have floated through with no requirements and have changed industry landscapes.