Isn't this just the NetPC or Network PC from the 90's repackaged? Wasn't it Java based technologies that were suppose to usher in "thin client" platforms that everyone would give up their desktop boxes for? The technology is better for something like this to occur these days, and maybe it's time. However, it took us quite awhile to go from something like the Newton to where we are today with the iPhone 5. There was quite a bit of iterating and consumer experimentation going on between then and now. The only consumer oriented success stories for cloud or network computing are remote desktop and backup services, which are more business oriented and certainly aren't threatening standard PCs.

Edit: I guess the main gist of this product is that it's remote desktop in your browser, without any plugins, and it can provide you with a full desktop experience, while boasting a light bandwidth footprint even with HD video applications. It also seems to allow you to tap in to cloud based computing infrastructure at the same time. While neat, it seems niche, and unlikely to rule the desktop. It also doesn't seem efficient to have an office full of computers streaming a remote desktop of MS Office, instead of just running it natively.