Personally, yes. A cloud database would be very useful in two or three situations here at my work. However, all those are internal, spread across several national subsidiaries on a private network.

I wouldn't want to use cloud database services at the moment across any publicly visible network. Assuming we could get the security issue sorted out, I still feel both national and international privacy regulation is lagging too far behind the needs of IT to be able to cope with a sea change as big as this. There's just too much potential for abuse until the legal framework can catch up a bit.