My whole thought on the network bandwidth thing is this: Yes it is possible, No Not yet.
A question for each and every person who disagrees. Does your NetFlix/ Youtube page load instantly? I didn't think so. Gaming is a very time sensitive activity. Even a moments lag will get you fragged (250ms is completely unacceptable). Also to the person who said how will they make us buy new consoles: simply put they won't, You buy either a subscription(monthly etc.) or you buy play time.