Sticker shock, and the 360 is 2 generations old.

If I want to play God of War a few hours a month then paying 700eur to enter or 75eur and a Netflix style subscription? Which is more reasonable sounding if you're not devoting much time.

Put it this way: Why do people use cloud based hosting over buying their hardware?

Mostly it's because they convert the one time cost to an amortised cost based on usage.