Misleading title: Slicehost accounts will be converted to Rackspace cloud accounts. They are killing the brand, not the product.
That's all of the slicehost product that's left for now. If that's not killing the product, I'm not sure what is.
For me, this isn't a huge problem. But, if I was running a email-based service, or managed VPN connections to/from clients from my slices, I'd be seething.
My biggest concern is that the Rackspace Cloud product doesn't seem as polished as Slicehost. Slicehost was a great service for newer users, with great documentation and help resources.
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You are free to disagree with my title but don't accuse me of things I do not do.