This seems to get brought up in every hn post on video game mulriplayer, and it makes me wonder: do you play video games? I dont know of any video games that do multiplayer that way, and i would think that alone suggests its not a good idea.
Who wants to play a game with 50ms+ keypress to screen update delay? Sounds miserable.
I don't play it much anymore, but I used to be a heavy player: the latency isn't 50 ms on GeForce Now (with a French connection, which is pretty good).
It makes me laugh whenever there's a post about anticheat on the frontpage and without missing a beat there's always a comment there - "why don't they just run the entire game logic server side and stream the updates to the client??? are they stupid?"