Sure,
A lot like the web today, expanding the functionality of the client through very powerful online apps which can live online, not necessarily bound to a single domain or server. And those applications can inter-operate further extending the functionality.
If you add rendering, you can theoretically play Crysis (latentcy problems aside) on a cell phone. The promise is to be able to simply span a lot of clients - because the client interface could be very simple or a web browser. However, even browsers can get complex - FLASH and plug-in support for example. Rendering is an extension of core cloud concepts.




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