Yes, seriously.
When I have tried streaming services in the past they've worked fairly well with less responsive games. You hardly notice an input delay when the game already has one. What's 160ms of input lag when the game already has 120, for instance.
But when I've played more responsive games, that's where problems have become apparent. While the game looked fine, executing combos and reacting to on-screen feedback became much harder in games like WRC and Street Fighter, when playing on PS Now, than they would be if the game were played locally. Specifically, while WRC looked the part, countersteering a drift around a turn would almost always result in understeer/oversteer, as the visual feedback is provided too slowly to make accurate fine tuned adjustments to how the car performs.
Input latency is absolutely more noticeable and ultimately, detrimental, in more responsive games.