I think the ability to actually email the docs around is half the value proposition. Having to always refer back to the cloud versions is annoying as hell when you're not actually collaborating, just showing someone a thing.

I email Word docs around. It’s like low-tech version control - I know exactly what was in the doc, and can recover it easily.

You are right - that's the feature!

Plus it's point in time - I'm sending you the document as it is now, and I might start cutting it about or changing it after to send to someone else, but this the version I want to send you.