According to Patrick Rhone, in MinimalMac, the iCloud could also be described in "Your Data is The Computer". Patrick continues:
This is the new world that Apple is creating. Where your data resides, the device you use to access it, how it is saved, where it is saved, how to manipulate it, how to back it up, how to recover if you make changes to it that you did not intend, all will be things you don’t have to think about.
Your data will be available to you on any device you own. It will be left exactly as you last left it. You can open it in any application that it is able to open it. Should your computer crash, do not fear, your data is safe. And when you get a new machine, simply log into it and all of your data will be there in short order. Buy a new Mac, a new iPhone, and new iPad, simply log in and the data will be there too.
When the device does not matter, when it’s always as you left it, if it opens where you need it, and it is always backed up, we can concentrate on making, creating, doing, being.
Read his whole discussion from the link in the start! It's great!