I've been kind of biting my tongue on the Windows 10 Cloud rumors because most of what we've read is speculation or misunderstanding. But this product offering is easily summarized, and it's not "a fresh Chrome OS alternative," as was suggested this week. It is, rather, nothing less the future of Windows.
In the sense, the folks who see Windows 10 Cloud as the resurrection of Windows RT are more on the mark. This is indeed "Windows RT done right."