nice. I think it's just a question of time until someone makes a web based Photoshop killer again though. Wonder how much of Adobe's revenue is based on Photoshop (or inclusion of Photoshop in CC)
The feasibility barrier and cost of building a web app with some of the feature set of Photoshop is getting lower and lower.
If the transfer speed is an issue, it could work on local files - most of the code could be client side.
I don't think it's much. I imagine most of the revenue, or at least where the healthy margins are, is the marketing and publishing clouds. Extremely lucrative enterprise software.