I dislike this for the same reason I dislike Steam -- it's a centralized account which has potentially hundreds or thousands of dollars worth of value.

If the service provider drops support, goes out of business, or decides to ban you, you lose an enormous investment.

I've known for at least three years that I would completely drop out of the console market after the PS3/360/Wii generation. Things are just getting too crappy. Maybe I'll go support Ouya instead.

Not really considering how my laptop/computers are connected to the internet 24/7...it's not a large leap to have my console be as well.

It may not happen often where you are but there are plent of places where a 24/7 internet connection isn't guaranteed and personally I'd still like to play my XBox when Comcast decided drop the ball for the 5th time this week :)