I mean... yes. This is what Stadia is competing with. It's in their marketing materials.
> perfectly adequate for a multiplayer game
If you're referring to the latency that traditional gaming machines have to contend with during online multiplayer, there's still a difference here
For many years now, online multiplayer games have used a technique called Client-side prediction (https://en.wikipedia.org/wiki/Client-side_prediction) to deal with the fact that tens of milliseconds of latency in a game feels terrible. They can't fix the latency itself, but what they can do is apply short-term changes to things like character movement and camera rotation on the client side, with the assumption that those changes will happen regardless of what the server responds with after handling the multi-client inputs. They effectively front-load the little stuff where tiny differences in latency are noticeable, and leave the server to handle the longer-term stuff like collisions and scorekeeping. This keeps interactions instantaneous, even though the shared game state can't be, and maintains a smooth game-feel.
This is impossible to do for cloud gaming, because the "client" itself lives across the network. The actual client sitting in front of you in this case knows nothing about how to render any aspect of the game, it just mirrors a video feed.
It's great that Stadia is working well for you. It's working well for some people. Nothing wrong with enjoying it. I just remain highly skeptical that it's ever going to work well enough for a large enough number of people to be a long-term success.
