With this move, Sony is positioning the PlayStation Now service against Microsoft’s Xbox Game Pass.
We read on the PlayStation Blog that the PlayStation 4 and PlayStation 2 games that we could stream until this point can now be downloaded to our PlayStation 4, which cuts out the constant Internet connection requirement (you will need to verify your PlayStation Now subscription once a week, though), and you can now play the games more stable than before (due to no lag), which is always a good thing. If you have a PlayStation Plus-subscription, you can also transfer your cloud saves over to your console (but having a PS Plus sub isn’t mandatory for PlayStation Now!), which is another comfortable option.
The PlayStation Now games’ online multiplayer do not require a PlayStation Plus subscription. The service costs 20 dollars/15 euros a month (or a hundred for a year), which is above Microsoft’s Xbox Game Pass, but the idea is good, and it might earn more subscribers for the service than before.
Source: PlayStation Blog