While "cloud" may be a big part of the future of computing, I think the relationship painted between that and the end of Moore's law is tenuous at best.
I believe a more plausible link exists between the end of Moore's law and the rise of open hardware as explained in this article:
The article argues a very interesting point and there might definitely be an opportunity for more competitive open hardware. At the same time, it feels kind of sad that it would take a technical constraint for this to happen; that is, rather than a change in culture.
I believe a more plausible link exists between the end of Moore's law and the rise of open hardware as explained in this article:
http://www.eetimes.com/document.asp?doc_id=1321796
TL;DR
If eight year old hardware is almost as fast as today's hardware, there is ample time to reverse engineer competitive open hardware.