Think the "cloud" is the end-all and be-all of computing? It's got a long way to go, baby, and I've had a front-row seat for just how bad things can get. A certain vendor (who will remain nameless so don't bother asking) that we work with through my primary business has had an on-line order processing system that went live a couple of years ago and seriously streamlined not only the ordering process but really enhanced our entire relationship with them. Absolutely godsend, actually. Well, two years into this system, the vendor decided to update their partner portal, and it's been hell ever since. First, the portal was updated and locked me out before I got an e-mail saying that an updated portal was even in the works, much less going live. Second, after getting access to the new portal, the ordering system (which is apparently still running the old code) started glitching and some orders were lost and others couldn't be generated. The time involved in going from quote to order to delivery is now longer than it was before the on-line portal solution was implemented, because I'm having to see if the portal is working for a particular order to know if I can still use the portal (frustratingly, it does work occasionally, meaning I can't just give up on it totally) and then contact the vendor to go through the process manually.
Guess what... people can still write bad code, even if its in the cloud.
Now I'm not pooh-poohing the notion that cloud services are here to stay. I regularly use and even host several cloud services. But I also understand that just because its in the cloud doesn't make it infallible. If someone uses a desktop application and hears that the update to that application has problems, they have the option of not updating until the application is fixed. For cloud-based services, that luxury is gone.
Know what you're getting yourself into and be prepared for the good AND the bad. Life isn't all rosy on premise, but there's not always a silver lining in the cloud, either.