Could not agree more. However you do realize that this is a favorite idea of the founders of YC? PG and RM's company was based around it. Recently someone posted a video of an interview with PG and he seemed absolutely enamoured with a more recent "cloud" company that did the same thing. He thought it was cool that the code entered on the screen never for a moment was saved on the author's own computer.

I use my browser to browse. And that's all. This allows the browser to be smaller, faster, less complex, and, if it matters, more secure.