IMHO, the point of X network transparency is a no-brainer in the same way as local OpenGL acceleration. Instead of wasting bandwidth on raw bitmaps, you just send the drawing commands, whether over the network or PCIe. (It's like MIDI vs. raw audio for the keyboardists out there.) I don't know all the programming details, but I've done 3D modelling over 2 MB/s cable this way, and I can't imagine it would have worked as smoothly using raw video.
You are talking about indirect 3D rendering, which is a fundamentally different topic. It is true that you can in theory send OpenGL command streams over a network, but in practice, this works only for certain applications, where the size of the commands is not too large, and no large assets (textures, meshes) etc. are transmitted. There's a reason why everybody wants *direct* rendering for 3D on the local machine. Forget about running games with indirect rendering, for example.
But when it comes to 2D applications, it quickly becomes obvious that the X protocol is useless nowadays, since most application draw paths, fonts etc. on their own, and X only gets to handle window-sized pixmaps. X drawing commands are almost never used anymore, except by some ancient stuff, like xterm. In that case, that fancy "X11 transparency" will end up transmitting raw bitmaps over the wire. Just use RDP, VNC etc. instead.