I don't buy it. When I had a C64, I had a number of games on a floppy. The floppy got lost. The games were gone. With the App store, I buy an app on my iPhone and it magically appears on my iPad. If I loose either device (or, heaven forbid, both!), I can re-download my apps. How is that me not owning my own software? Because I can't look at the code? Guess what...I also don't get to view the schematics of the power station that generates the electricity without which neither my C64 nor my iPhone are of any use.

The cloud has become a utility, like electricity. The cloud goes down, I can't access my apps. The electricity goes out, I can't turn on my machine. This is the idea that the next generation will be raised with.