For business....giving users a PC and having them screw it up constantly is a real pain in the butt, always has been always will be because most users are thick twats. That's why Citrix was invented over a decade ago for large corporations (and any intelligent IT Service Manager would insist on this being used for all but the seriously experienced user...so 99%)
At home however it is nothing good, basically what happens when you upload a picture to photobucket and don't keep a copy but then Photobucket deletes it for whatever reason....imagine this on a terrabyte scale...ooof no thanks the internet nazis get enough control over us already with bills and laws impeaching on my civil rights left right and centre on the assumption I am a filthy pirating scumbag until I prove otherwise.
Nope...I will store what I want, where I want and as often as I want from wherever I locate it. That's what everyone wants and that's why TB drives are peanuts these days. Cloud computing is just an attempt to seize control from you about what you are allowed to store/keep......disguised (badly) as something else which is of little interest to most people today except as a novelty or to overcome the limitations of crappy 8gb netbooks that seem to be all the rage.