That might be the case. Admittedly I don't know much about this cloud platform, and the article doesn't fill in a lot of details, but I would naively have assumed the target audience for something like this would be pro and semi-pro users, who would want to store RAW files, since amateurs and those just looking to share photos would get more out of Flickr, or even Google Photos / Facebook / Twitter / etc.

Also I don't think the point of canon's service was to store heavily edited versions of photos, if you were able to edit them at all on their service.