nVidia is doing something similar with the Shield devices with the GeForce Now streaming for PC games.
Personally, I just stream my own PC library to the TV on the Shield console for those time's I'd rather be in the living room with a supported PC game. Aside from the nVidia in-home streaming, you have the Moonlight app which is based on the nVidia one, and the Steam Link device streaming (never messed with one of these, so no clue how it fares).
As for PSNow, wasn't this basically built on tech from when they bought out Gakai (or something like that), which I think was similar to OnLive?