Prior to today, there was very little reason to use the ridiculously small 5GB of free space Apple included with iCloud. It was always easier to use a more capable and less expensive Dropbox account.
That all changes when iOS 8 launches alongside iCloud Drive, Apple's new rival to Google Drive, Dropbox, Box, Microsoft OneDrive and the dozens of other file sharing services that have sprung up in recent years.
It still costs money over the 5GB limit, but at least more file types can be stored and synced. This includes documents, presentations, spreadsheets, PDFs and images.
What's really cool about the forthcoming iCloud-enabled iOS Photos app is that every picture and every edit is saved across all of your Apple devices automatically. Better yet, there are new tools and filters in iOS 8 and it'll work on the web.