I think someone slipped up and let a marketing type look at a spec document for someone's network. They saw this cloud-shaped thing and decided it was marketable.

Here's the problem. Most of the world thinks of "The Web" and "The Internet" as the same thing. So when you start trying to market something decidedly non-webby you need a new term for it. "The Cloud" is just a bunch of internet services that most of us have been using for years. We could purchase hosting services on the other side of the world that would provide everything "The Cloud" is promising today. Or we could set up our own sites (or colocation) locally or remotely to give us that functionality.

Personally, I'm not trusting my corporate data to any server that I can't lay my hands on. There are federal laws and regulations (HIPAA, SARBOX, etc) that make me nervous about such things.