Perhaps I am already too old, but the idea of cloud application sucks and I hope the desktop never dies.
In my opinion the cloud should only be used to synchronize my data between my devices but it should never be the sole source of my programs. If I spend money on software then my main requirement is that I can install it locally and run it independent of the mother company.
I mean, Intuit has moved its core accounting products to the cloud a while ago as well right? I'm not sure I understand how Xero is connected to Quicken-type services.