One thing that is missing from most homes is symmetrical internet access. As long as most people can download data significantly faster than upload them, data hosted in the cloud has advantages. Ideally eventually internet connections would become symmetric and fast enough for everyone to have their own low power server with a static ipv6 address at home, with which they can sync all their data. Of course this does not solve the problem that most sever software has complicated configuration and open source alternatives often lack the polish of commercial products. But as soon as there is a switch to ipv6 and symmetric internet access, I see little reason why a decentralized solution would not win.