Well, my work computer is pretty much that already. My company is full-on Google suite. We are not supposed to store any files on the computers, we don't have any back-ups for the computers' storage. Everything is supposed to be on Google Drive and 90% of the work is done with Google Docs, Sheets, Slides.

I think many big companies would be very happy if they could have a key-in-hand solution with laptops as "user-terminals" with all processing and files handled in a cloud. Of course there are some important considerations like confidentiality, cybersecurity and GDPR. Network/electricity is another one, but this is already the case today that almost no work can be done in either of these situations.