Well, at least for gaming It worked for me quite well with GeForce NOW. I have a MacBook can play here and there some games I like - as a casual gamer it’s fine. I wouldn’t bother to maintain a gaming PC for the casual gaming sessions I have. In this sense - yes, I gave up my non existing gaming PC to rent.
To be honest for 95% of stuff it would be enough to connect my smartphone via USB-C to a dock for mouse/keyboard/displays etc. (I know Microsoft had this and it was an amazing idea) For doing the non standard stuff like gaming/resource intensive development stuff I could rent a cloud pc.