E-waste. Nothing more.
PC Gaming
Rule #1: Be civil
Rule #2: No spam, memes, off-topic, or low-effort posts/comments
Rule #3: No advertisements
Rule #4: No streams, random gameplay videos, highlights, or shorts
Rule #5: No erotic games or porn
Rule #6: No facilitating piracy
Rule #7: No duplicates
E-waste. Nothing more.
Status LED on top clearly shows that it will also work as regular local controller:

...why do you need a special controller for Cloud gaming?
If it's like the Stadia controller, stuff like user authentication is done by the controller's embedded system.
If it's like the Stadia controller, it'll have a kickass D-pad but shitty battery life, featuring a battery that CAN'T be replaced.
featuring a battery that CAN’T be replaced.
That would make it tough to impossible to sell in certain jurisdictions that adopted right to repair laws.
Good thing Google killed it before that became their problem!
What the hell is this. It looks so uncomfortable.
"What if we made a Valve Steam Controller, but worse? 🤔" -- Microsoft
Let’s take everything we learned over the years about making kick-ass controllers and forget all of that and make a shitty one instead!
Wut? Xbox controllers are my favourite controller form factor, what the hell is this thing?!
Looks like Microsoft is preparing to shut down console department or at least handheld department.