I'm still holding out hope that the great minds at Apple are simply not that stupid. On the one hand, they have broadened the Mac and iOS markets bigtime by incorporating "features" that make the hardware easier to use for people who simply aren't very good at technology.
On the other hand are lots of professionals who spend a great deal of time each day working with scores of scores of complex files--graphics, video, word processing, spreadsheet, music, etc. They know, as I'm hoping Apple knows, that iOS really can't be scaled up large enough to satisfy the needs to those people. I purchased an iPad2 with the expectation that I could use use the iOS versions of Pages and Numbers to do actual, useful work with documents. That clearly wasn't the case and the file management in iOS is far worse than MS-DOS v1.0. I sold my iPad and purchased an 11" MacBook Air to complement my 13" MacBook Air.
What I do think will happen is that there will be option within Mac OSX to either be in full Mac OSX mode or iOS mode. Thus, simple people or people with simple needs would be able to interact with a Mac computer in many of the ways they interact with iOS now.
I've tried to be really charitable in my comments above, but the bottom line is that the tremendous growth in Apple's profits have occurred because Apple has learned how to totally dumb-down human/hardware interaction without completely offending brighter people with more sophisticated needs. However, with Mac OS X Lion, they may have crossed that line. I'm am personnally offended with tons of Lion "features" where Apple has dumbed things down and not offered alternative preferences for people who want more. I'm still hoping that the executives at Apple understand this.
As for the real question in this thread, iCoud is not totally worthless at this point in time, but it's worth SIGNIFICANTLY less than MobileMe. If they will make available cloud storage that users can use any way they want, then I'll be satisfied. I have thousands of personal files of every kind. My needs don't fit it any pre-cut mold. I need blank cloud storage that I can use with backup software like Carbon Copy Cloner, Synchronize Pro X, or GetBackUp Pro to be able to satisfy my needs for cloud backup. Unfortunately, Apple thinks they know ahead of time what everybody needs.