It doesn't matter if you edit in Adobe, Avid, Resolve or Final Cut Pro. It doesn't matter if you're a Mac or Windows user.
If you create videos professionally, you are keeping your eyes on the cloud and wondering "when is cloud video editing coming?"
Cloud video editing is already here and it works great for certain workflows. By certain workflows, I mean 4K and HD footage that is heavily compressed. Usually MP4 files.
For video professionals, color is critical, to get the color space you need for professional editing you need really big files. This poses two challenges. Both challenges will be overcome, but both are still a lot of years away from that.
Challenge 1 - Getting the files to the cloud. 2TB is a pretty average projects size these days. Using 100% of a 100Mbs connection, a 2TB project will take about 2 days to get to the cloud. Think of that as your first time opening the project. Now just imagine, the first time you open a new project, it takes 1-2 days.
Challenge 2 - Streaming large files. This is actually the much larger challenge. Because some people can work around waiting a day or 2 to start a project. But once those files are in the cloud, you now have to stream that data. A single stream of ProRes 4K is 640Mbps. Now imagine every link between your cloud storage and internet connection sustaining that with near zero latency.
Yes, there are many compressions technologies that will help this, but streaming full color space of a ProRes 4K file is a lot more complicated than doing a screenshare of your Power Point presentation.
If you're editing footage from a phone and social media videos, cloud video editing is already here and it's great. If you're a high end professional work with high end tools, give it another 5-8 years.