Agreed. Too many mid-sized companies seem to think that the cloud is some magic bullet for them, but when it comes right down to it... if you have substantial but consistent traffic (which many mid-sized companies do) likely the cloud is not for you.

If you have a few dollars to throw at moving off shared web hosting, the cloud is likely for you and also if you are the next big thing on the internet, it might also be for you (until you run out of VC dollars and then have to figure out how to become profitable.. but that's a whole other story).

If you rent servers, you are in the cloud.