It joins the competitive market of cloud storage providers like Microsft SkyDrive, Amazon Cloud Drive and Apple iCloud.
Personally, I have been using Skydrive, and have no issues as such with it. I have seen that Amazon Cloud Drive also works fine. Additionally, Apple users love iCloud for its easy to use facility. 
Google does seem to be a late entrant to the game. And then with the failure of Buzz, Orkut and not so well received Google+, the company must be betting on it.
But focusing on things like free 5 MB space won't do good for Google, as Amazon has been giving the same since long.
I have not really looked into the product to see how exactly is it different from the others. Like me, I am sure rest of the users would be looking for the extra something that would prompt them to choose one cloud storage solution over the other.
But I am thrilled! And am sure, we are going the Cloud Way--and that the right way, that is!
