True, but this has been possible for some years now and it still hasn't taken off.
You seem excited, but I still see extensive value in locally hosted software. At the very least, it's harder to be held hostage by local software
The end of general purpose computing for the average person would, IMO, be a very bad thing. It'd make it much easier for people to be pushed into the role of pure consumer. I've no doubt that there are entities out there that actively desire this, however. It'd also make it very hard for the concept of Free Software to exist, which bothers me greatly. But we'll see what happens. Can't sit idle though.