Whether you're streaming a ps5 game or a ps1 game, it isn't going to drastically change the bandwidth necessary for a good experience. More than anything latency is what you want to keep down for a good experience and that has little to do with bandwidth.

Sure, if they open the streams up to 4k then bandwidth will be more of a concern, but considering remote play is capped at 1080p when streaming locally from your own ps5 I don't see that happening in the near term. Of course this is considering you live somewhere in the US that you can at least get a decent cable (or the fiber dream) internet connection, so YMMV.

One can only hope for calmer, reasoned heads in a new smaller community. While this might have some short-term benefits for a subset of the gaming population; long term this will be nothing but detriments. Larger companies, getting larger and consolidating their markets has never come with long term benefits for consumers across any industry; and I do not expect gaming to be any exception.

TBH when this was announced I was fully expecting little to no resistance to it given prior history; so I'm pleasantly surprised that at the very least some real effort is having to be put in.