I wish for the sake of clarity people would quit referring to the software involved here as being "in the cloud." Calling it "Creative Cloud" doesn't help.
The software is not in the cloud. Unless I have completely misunderstood all this, it is installed on the local computer. The ongoing operation of that software is tied to mechanisms in the cloud. And even then, it seems like it's a periodic thing, where it quietly contacts the Adobe mother ship (monthly?) to allow/authenticate continued use of the product(s) if one's account remains in good standing, rather than something that requires an internet connection to be in place each time you launch it. There is also apparently some cloud storage offered with one's account. The subscriber is entitled to obtain occasional software updates as they become available as part of the subscription.
Ever edit a document or spreadsheet with Google Docs? That's in the cloud, and accessed through a web browser.
Maybe next year they'll offer a truly cloud-based version of ACR and Photoshop. It'll all be done in your web browser! Step one: commit to the low, low monthly price. Step two: prepay for 15 years and get a 1% discount. Step three: upload the 2,000 RAW files from yesterday's wedding. Step four: come back tomorrow to begin culling shots...