> The latency kills all the fun.

I've found that while it changes the constraints on what is fun, some fun is still possible, and the ability to preserve state across devices/locations sometimes offsets the 'loss of fun'

e.g. coding / light 'ops' stuff that is just 'graphical text' is fairly bearable to me in the ~100ms range with good compression/low bandwidth settings, since often you can blindly type some code/commands and take a breath while the UI updates. Video/Graphics/Etc or heavy GUI interactivity starts to get a bit painful.

one clear benefit to cloud is faster in-cloud bandwidth/latency which could make up for the less responsive UI depending on your use case