Agreed. The idea of cloud computing is a power play to make users feel more secure given the inherent problems of (primarily) Microsoft Windows usage on the Internet.
The pitch is: "We'll do everything for you in the cloud and then it won't matter what you are running on your internet access device."
The problem with that model is that everything gets controlled by someone else. But the majority of non-technical customers do not understand how much they are giving away with that service model. They feel safer with a large corporate entity telling them what to do than with local in-house technicians and service providers.
I think that the future model should be more of local clients synced across the internet. Like the DropBox service provides. Everything works whether you are connected or not. And everything is re-synced whenever a client connects to the net, but no processing or closed applications are run "for you" in the cloud.
Most consumers see technology as "magic" and don't realize what they give away or lock themselves into until it's way too late. We are seeing that more and more each day with Facebook, Apple, Google, etc. Whose business models depend on the naive user to accept free services or supposedly "safe hardware" in exchange for lock-ins.
Google at least seems to be offering the most open data formats on it's services, so the user lock-in is not nearly as complete as with Apple products.
Apple seems to want to re-invent television via a complete locked-in patent controlled proprietary walled garden that they can charge tolls on to everyone who uses it. Good for Apple and their shareholders, and bad for almost everyone who buys into it. But most buyers won't realize that until they've invested time, $$$ and their data in a product that's more like pretty handcuffs than a good tool.