Personally I see could computing as a form of distributed computing. The current infrastructure given by Google, Amazon, etc. I do not see as very distributed since they run a few huge data centers. If they are taken offline then that is a major hit to the overall infrastructure.
What I envision as cloud computing is that everyones computer using the cloud acts as a node in the whole infrastructure. Serving pieces of applications and data that reside on the cloud.
I have mentioned this idea before and someone made similarities to a giant botnet or I see it as similar to a torrent network.
Anyways the current infrasturture given above is not what I envision as cloud computing infrastructure, more of a giant hosting infrastructure.