I really wish this whole 'cloud' terminology would just stop being used - it's creating a whole generation of idiots who don't understand simple server/client relationships and make it seem like it's some special magic technology.
Persistent worlds/levels? Yes, it's called connecting to a server which is running it all the time. Offloaded computation? So if those volumetrics have to change, like when something passes through them, you have to wait for that to go between server and client. Either that or you have looking very nice and not realistically changing.
Not at all interested in all the 'social this', 'cloud that' b.s. that the XB1 seems to be touting. I don't need a piece of equipment that connects to anything and everything - I have real equipment seperately to do that. I just want a gaming console to play games when i'm not using, you know, a pc.