You're right, it's not limited to OnLive. In fact, you can go to the store, buy a physical copy of a game, and still not have full rights to it simply because what you really bought was a license. Services like OnLive, however, don't make this any better and in fact are a move in the wrong direction (in my opinion). When OnLive eventually tanks, what will happen to all the games that people bought?
Nice paid feature, GameSpot. I guess this is the logical next-step after the obnoxious full-page ads, but whatever. The fact remains that it is physically impossible (literally) for OnLive to stream HD data with 100% fidelity over the average American bandwidth pipe. You'll have to wait 5-10 years before that's possible and even then, OnLive will probably still pump mid-res, med-settings games to your screen that you could easily achieve yourself with a modest rig. Let's not get into the details of "buying" a game that you don't "own" either.
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