I myself am a huge fan of CC, but Adobe definitely has a gigantic branding problem by the fact they are associating these products with the "Cloud". It's a big mistake, in my opinion, and I wouldn't be surprised that they stop calling it "Creative Cloud" in a year or two, after the marketing cache of the "Cloud" buzzword dissipates (remember when everything used to have "HD" tacked on to the product name?)
I do applaud Adobe in having the courage to go with this business model though. I think it will do a lot to curb piracy among working professionals.