This is a make or break thing in supporting whether I buy a PS5 next year. Game Pass is not only great value in my opinion, but how it works is also second to none. The problem when I used to use PS Now when I had a PS4, was the streaming was limited and not very good. I know they expanded it eventually to include the ability to download certain games but it wasn't enough and was still limited in scope there.
If they're planning to challenge Game Pass then everything needs to be downloadable as a minimum, every first party Sony title or exclusive from PS4 and 5 needs to be there day 1, no exceptions. It needs to be priced fairly, or at least competitively with Game Pass and in an idesl world they need a 3rd party tie up like MS have got with EA for EA Play. If Sony got the same deal with EA for EA Play to be part of the package or even introduce UPlay to consoles as part of it, that would significantly help.
Where Sony have an incredible opportunity to not only gain subscribers very quickly, but also poach from Xbox, is in that aforementioned backwards compatibility segment. PS1 and PS2 are so beloved by all areas of the gaming community, they have a real opportunity to knock that out the park. Again, ideally in a downloadable format but I know the emulation might not necessarily be there or capable to do that. So as long as the streaming aspect works well then that would be acceptable, in return for a comprehensive library line up.