The main point of cloud storage is backup, and the ease of being able to access your files from anywhere you have web. It's pretty amazing that I can be working on a file save it to my dropbox folder. Go into work and the file is there with all the edits Ihave done from home. It works flawlessly and its free, I really don't see a downside. Don't upload your tax documents and SS# if you don't feel its safe.
It is not FREE by any means. NSTAAFL
We are merely a sea of testers and users who are helping these companies get their product to market. These companys are then going to investors and saying 'Hey we have 120398123 petabytes of user data & 230948 users, GIVE US MONEY'. In a few years time the cloud will expand to take over HDD and then all of your own personal content will be leased back to you at a monthly rate. Just because something is FREE at the moment, does not mean that tomorrow it will not cost you money. You think it is free for box or dropbox to run multiple warehouses of servers?
As far as mobile goes, Android made a decision to make the OS more user friendly and remove the 'want' for expandable storage and greatly lower the internal storage. This in turn forces users to rely heavily on the cloud for storage which requires high speed internet access at ALL times and costs money. Wont it be great if one day we can pay $150/Mo for verizon and $30/Mo for cloud just to do the same thing we can already do? The innovation of cloud storage is here, but the infrastructure is just not there yet.