The failures that happened were of economical nature (OnLive) and if you call selling a ~50 people company for ~500M a failure (Gaikai) then I'd love to hear about your success.
Apart from finding a way to profit from this there are no big problems left to solve.
My idea of success is a service which works for gamers. The fact that someone flipped a company is irrelevant, there are lots of companies which turned out to be economic failures that were dumped on investors. The fact that it was an economic failure points to a) the fact that gamers didn't flock to it and b) that it wasn't profitable to run or scale
There are more practical explanations of OnLive failure. Like the prices they had to pay for the content leading to a very modest library of titles.
Gaikai is going to roll out with PS4 and only then we can judge how well is it doing. It's definitely solved the content issue so we can see if your technical angle holds.
Apart from finding a way to profit from this there are no big problems left to solve.