What business is in "Pay as you go" cloud computing world

Cloud computing is a software as service infrastructure. You don't pay the money for services up front including buying powerful personal computer or servers, software licenses and server maintenance. On the cloud computing, you pay as you go like hiring a Cab service. But what do we need to pay? What $$ opportunities are in this "Pay as you go"? On old internet, almost everything has been free. What can we charge for in the cloud? If we cannot find user value in this cloud, it just looks like big bubble to me.
I try to write down the gap between investment in the cloud and user's mind about using internet services here to see if we can find any gold mine.

Service provider investment	In users mine
Servers	I am not paying any money to buy your servers.
Bandwidth (Upload)	I have my own debt to pay to ISP.
Service development	Maybe I would pay for your hard work, but look google offers this for free
Running service(All the bills)	I run my services and you run yours. Seems fair to me

Which conclude that ISP makes money, google makes money and rest of you Don't.