Parent is correct, but kinda moved off the point.
Social Networking != Cloud Computing
Yes you can run some applications from facebook's/myspace's severs, but they are hardly the scale you'd need for say, a cloud based OS.
Until I can store/edit documents, compile code, host my own virtual server, run complex applications (GIMP, Blender Publisher) and basically do everything else that I use a computer for from what is basically a thin client connected to a gigantic central cluster, then it isn't cloud computing.
Though to be honest, I don't think I'd want to. Something about controlling my own hardware is appealing to me ;)
About social networking being "hotel california"... WTF? "I can't transfer my info from myspace to facebook easily, so it must be lockin!" I'm sorry but that argument makes almost no sense. These are separate sites running on their own systems, they have their own way of communicating. Maybe if you can write a program to transfer data from one to the other, you could release it and solve this problem :) But the sites aren't trying to block each other out.
About the concept of cloud computing being "hotel california"... Maybe. IF MS and Apple come out with cloud computing solutions, I assure you that they will be subscription based. If you want more features, you WILL pay a higher premium. And they will be orchestrated to stop you from using the other system, even though the hardware that you'd be using to connect to the cloud would be almost identical in both cases (A monitor, Mouse, Keyboard, and computer with just enough horsepower to run SSH)
Who knows though! Perhaps cloud computing will spawn the year of the linux desktop! Think about it, free servers run by philanthropists, serving people the content they want for a fraction of the price of running your own box! /sarcasm
In reality, MS and Apple will continue to do their best to keep linux under the public radar, a good deal of people will still own their own computers, but will probably use very lightweight cloud based laptops to do work portably. These people will pay high premiums for their right to use the system, while Linux/BSD/Solaris/Haiku users will have the same laptops running off of their own personal servers. Normal people's privacy will be marginalized and the large companies will have more control over most people's lives. And the cycle will continue...