1) Replication. Very very few large production Web sites run with one database server. The need to dynamically scale replicas and slave servers is critical for many Web applications.
2) Lock in to InnoDB tables. From what I've seen you can only run InnoDB tables. For some, MyISAM is a requirement, and in some cases provides better query performance.
These two issues right here are why I continue to run my MySQL server infrastructure myself in EC2. If and when they address those two critical components I'll most certainly give the new offering a hard look.