Of course, it solves a lot of problems. But you have to pay for it by increasing the load on the servers by orders of magnitude. This makes it a brute force approach in my opinion.

This is of course depending on your meaning of „elegant“, but for me this would imply to solve these issues without increasing the server load so much. Let the client decide as much as possible, but check the decisions randomly and in case of suspicious player stats. And DRM for multiplayer games should be no problem anyways? Verify the accounts or your users, but that applies to stadia like services and also the „conventional“ ones. Solving the data mining issue is another topic and yes, giving the server more authority for things that the player should be able to see might be the only way to deal with this. But maybe the server could hand out client specific decryption keys when they are needed? That would be elegant, and not just keeping all the content server-side.

Game streaming services will find their place, but they address mainly the entry hurdle and not the issue of game state synchronization.