"cloud" vs "P2P"

As I was talking with my friend this weekend, I've got a mind like "is cloud going to be the only way?". Though it's going to be an ideal world that every data exists on the other side, such as on the web, but it costs so many hardware and bursty network transition.

My concern is that despite Microsoft and Apple have big OS market share, they had started working on implementing cloud services. I think that's a Google's field. Since Google's mission is that "make everything searchable", they do have reason to do that. But for Microsoft and Apple, the way of using P2P technology would be the counterpart. They can integrate P2P into the file system on their OS, and let the user uses their application and documents from anywhere. Using P2P lets the system to be not only scalable but also reasonable. Hardware makers can keep their earnings from the users.

I understand there are several problems using P2P technology (such as security, fail over, etc..), I believe it will be the new way after burst of cloud bubble.