Is the cloud computing hype bad?

From Gartner "Why a little cloud hype might be useful":

"It’s too simplistic to say cloud hype is bad . If we are technically expert is might irritate us with its breadth and abstraction, but we are not the only audience.  Somehow the idea has to  cross the corridor into other business departments and that’s just as likely to be via a Business Week article or even (dare I say it?) an airline in-flight magazine.  Whether we like it or not, repeatedly promoting a basic collective term through broader media has a long history of overcoming corporate resistance and inertia in ways IT departments can’t do alone. ‘The cloud’ is a BIG idea, its a reasonable visual metaphor and most of all its not an acronym.  It may not be perfect, but if it captures the imaginations of a broader audience of decision makers we should cut it some slack.  IT must remember that even its biggest ideas compete for mind-share with other major strategic change and improvement options - like moving to the Chinese market, restructuring the finances, building a new headquarters, or re-branding."