I haven't found any news on the price of Buymytronics. So I am hoping they didn't break the bank on that acquisition. That being said they do have a lot of cash on hand for development. It would have to be a dummy terminal with everything on the cloud. Same idea as steam but GME sells you the hardware. Add in a monthly charge and the fact you already have subscribers lined up in your Power Up Rewards membership for early adopters. They have the talent and know how in Spawn labs to produce this.
The strain on the relationship with console makers wouldn't matter. At most it would matter to publishers who do the exclusives (ie Gears of War, Alan Wake, Uncharted, God of War). All other publishers would be on board. GME is EA's leading retailer and GME is definitely either one or two for all other publishers. All publishers would definitely be on board.
It would be all digital so the margins would be higher than used and you would have the recurring subscription fee.