I don't need them to do "rich document rendering" (whatever the hell that is) nor do I need them (or anyone else to) index the contents of my files. All I want is for someone to STORE the shit and keep it synced between all my machines. Dropbox does this very well.
As for encryption, I don't have time for that nonsense. Anything sensative such as financials is kept locally on my own server or burned to a DVD and put in the closet. I couldn't care less if someone gets a hold of my vast collection of pictures and documents. It is private, but not going to hurt me if someone at the NSA starts snooping around.