Cloud computing

This term keeps popping up, so I went over to the wiki and looked it up.  I've seen the concept before, but the use of the terminology threw me.  For anyone not familiar with it, it looks like computing would be treated as a utility- such as water and electricity. 

There are advantages to this, I see.  Not so much in hardware, but the software.  For example, every time you buy a new computer, you have to buy a new operating system.  This is what made Bill Gates so rich.  If you can just plug your computer in like your tv, it would be not only more user friendly, it could also be cheaper.  At least the software would.  You wouldn't have to go back and buy new software every time you buy a new computer.  You would just share the application with others and be charged for your usage of the system.

The downside is that your dependence upon the system to provide you with the service.  These days, there are people who are trying to go "off the grid".  This is going the opposite direction.  Instead of going off the grid, this gets even deeper into the grid.  Maybe that is not so good if the grid fails.  In such cases, you are helpless.