Note that I wasn't just talking cloud storage, but actual cloud computing. Your computer would just have to have a fast internet connection to transfer multiple tracks simultaneously, but with Fiber becoming more prevalent it is not far fetched. Your computer becomes a multichannel audio interface with a remote control panel interface. More like the old client-server scenario where they would have what was called a "thin client".
Yes, it's VERY likely things will go that way eventually, with the "mainframe in the sky" and us with dumb terminals instead of computers - if for no other reason than it appears both Microsoft and Apple want that. But the question is when. Fiber-optic penetration is projected to be 15% in US households for 2020. The last two years, penetration has increased by only 0.3% a year on average, and that's the same projected growth for 2020, so it's a slow climb. Here's some more info, current as of 2016:https://www.statista.com/chart/4392/fiber-adoption-in-oecd-countries/
Canada, Germany, England, Italy, France, and Australia, which participate heavily in internet music sites, aren't in the top 10 so presumably they have total broadband subscriptions below 25%. So I don't know how long it will take for the world to hit, say, 75% fiber-optic subscriptions. And if AT&T is involved, it will probably be never
But with the mainframe/dumb terminal scenario, do we really want a handful of companies to control all the world's data? SmarterASP.net, with 440,000 customers, was hit with ransomware over the weekend and best guess is it will take two weeks before they restore everything (if they can). Backend databases were hit, not just the public-facing aspects. It's the third major hosting network to go down this year from ransomware. More and more, it seems the only protection is disconnected workstations.