cloud computing - back to the future

If history repeats, then I have the feeling that "cloud computing" is a throwback to the mainframe. This time around, the mainframe is bigger and there are many more usernames supported. Extrapolating, it might mean that as Moore's law gets applied to new technologies, we will all come to own a laptop/pda/phone version of that cloud computer. It is just a matter of time, and I'll speculate 20-30 years (based on 1970 -> 2000 numbers + compression for speedup in the rate of change).

So - I speculate that "cloud computing" isn't just another feature to add to an app, it is actually the model for the platform that we will all be developing on for the next N years. That is, massively parallel computing and choices about memory vs solid state vs spindle disk read/write times. This will drive new programming model/languages changes with the same fervor that the 60s, 70s, 80s saw.