Go out and find a whitepaper on this stuff that isn't targeted at CEO's. There are some good ones. I'd include links but I work for a vendor and I don't want you to get our slant.
There are other models, Private Cloud just uses the same concepts that public cloud uses and applies them to your existing IT infrastructure. Your users get easy access to compute resources and because they are inside your network connecting to them is no different from connecting to any other system you maintain.
Corporations like cloud because it reduces their time to delivery and their overall cost of building a new server. IT people should like it because it enforces standardization, and increases reliability due to the reduced risk of human error. Also IT people should like it because most of what it does is pretty boring anyway and we've all most likely scripted it. Cloud just re-uses those scripts and executes them for us.
I think you're right that IT people make or break a solution and the same is true of cloud models. The need for IT people to design, build and repair the automation will stay in the new model. I'm not sure if this is "blue collar" IT or not (sort of a dumb concept). I wish cloud wasn't pushed as a new concept because in reality it's a convergence of a number of concepts that have been in the industry for some time. I think that's what makes it a little more of a reality than the traditional new buzzwords. Cloud Computing is taking the standardization efforts of SOA and ITIL and adding automation and virtualization. Since most of us now have IAAS and PAAS documented it makes it easier for Cloud to catch on.
There will be a shift in roles. People that today have most of their job defined by Server Build, Application installation, or OS installation are in danger. They need to either script themselves out of a job, thereby becoming "Automation Experts" or someone will likely do it for them. Current timelines within organizations for server build of 1-2 weeks is going to become a pressing issue as we exit this recession and try to ramp up new projects. Cloud is available at the right time to address those concerns and is based in concepts that people have already been using for a couple of years. It's possible that the word Cloud will go away but the concepts that it brings are going to stick around for a long time, and be a game changer.
Please note that it doesn't say bring back to the United states, where they are a citizen.