It may not be a replacement, though they can work hand in hand amazingly.

I've found that as long as I leave my pc running at home, I'm able to just hop on 4G mobile data through my phone and stream the vast majority of games.

I wouldn't try this for multi-player games, but when I want to play Warhammer when I'm away this does the trick!

Or even at home, no more hauling the pc to the TV. Stick it in the corner, and simply stream over wifi.

Personally the only games not able to played on my deck are games like Starfield, which thankfully doesn't bother me one bit. (Though it worked perfectly being streamed from my 1660ti).

Now if you're a graphics snob then no, the deck can not compare to a pc. But neither can a console.