Let me paint two other area's Sony was first in but find themselves behind now:
1. BC what happened to the interest in that area and then they dropped it?? Then MS bombshells Sony with BC for the Xbox 360 and OG Xbox. The kicker was the BC emulation was leagues better than the original home system.
Sony's been doing BC since the PS2 and the PS3. The PS4 is an exception, mostly due to incompatibility with Cell. You may ask why they then didn't offer PS1 and PS2 BC, my guess is because it would mean a fractured BC experience. Now, of course we have PS2 downloadable games via PS Now, and there's more than enough speculation that the PS5 could have full BC with the entire PS console catalog.
2. Yes, Sony invested in Onlive but, what did they do with it? Shut it down. Where are the tech advances? MS and Google have made quantum jumps in those area's and bringing latency down for the consumer. Both have working games proving the tech works. Where were Sony's advances? See it doesn't pay to be first if you can't capitalize on the investment.
PS Now? Not sure what you're talking about man. PS Now is in 12 countries and performing a beta in 7 more. It's growing and will only get better as time goes on. The theory I subscribe to regarding why they haven't expanded more is two-fold
1) They are awaiting PS5 hardware to install in PS Now server locations. Right now they have to install both PS4 and PS3 hardware in locations to cover the available catalog and that's not cost efficient and surely they want to stop having to produce Cell hardware soon. This is one of the reasons it makes sense to think the PS5 will have full BC because if it is then this single hardware setup will be sufficient to handle all of their streaming needs in all servers. It's because of this reason I think we've seen a relatively slow rollout of PS Now globally. Once PS5 hardware is available I think we'll see a lot more countries getting the service
2) PS Now was originally intended to be on all devices from consoles to TVs, mobiles, PC... everything. That was obviously scaled back to PS4 and PC. I'm thinking the mobile offering was put on hold until 5G can roll out and offer mobile users a proper streaming experience on the go. I like to think this is also one of the reasons the Sony Mobile division is kept around because they are basically an in-house R&D division that the rest of Sony can tap for their experience in mobiles and 5G in particular.