You and I must use disjoint sets of software then. For me, cloud software is universally slower than legacy software. Good chunk of it is because of the browser. The UI, by default, is jankier and slower for every interaction - to the point I can notice the delay on every click, which for desktop software even 15 years ago was true only when the machine was under large load - not literally all the time.
And that's without considering UI interactions that block on network requests.
And so, I find trivial webapps to be just jankier. For anything serious though, they're near-useless, as the performance drop prevents using the app or, in some cases, slows down the entire machine. 2D raster and vector editors, and 3D modelling software, is still done primarily as desktop apps for a reason.
People have nostalgia for 98 and XP, but try to use any software from around that era and it’s the equivalent of riding a bicycle on a highway. Definitely not 5 km/hr slower every year