You can't have Falstaff, and have him thin.
Meaning, you can't have superior computing power like the "cloud" provides and expect to retain total transparency/privacy. Something has to give. I think it is inevitable in the long run that business will decide that the help to their bottom line that the cheap resources of the "cloud" provides offsets any theoretical leftist concern about transparency, privacy, etc.
Asking everyone to do their own computing is like going back to an agrarian culture where everyone grows their own food. Seem to recall Pol-Pot tried that, and I don't think history looks upon him too favorably. 'Nuff said.