Hardly. I mean it does look that way at first, but as long as there are good competitors around, the price of SaaS products won't be exorbitant. Besides, technology seems to have a very cyclical progression: we went from time sharing computing on big vendors' computers, to personal computing, and now back to hosting with big vendors, via cloud. I'm gonna go out on a limb and say that future progress would once again make having one's data with oneself more attractive.
"as long as there are good competitors around"--that's the key, and not something I necessarily trust to be the case. Net neutrality, for example, would be a non-issue if there were good competition, but there's not.
