I don’t think so.
Rubbish article in the LA Times (who don’t get a link because of equally rubbish login policy):
“For a great many people now using some version of Microsoft Office, it’s finally possible to do it all for free using Google’s newly expanded set of tools that, at last, include Writely, a word processor that looks and feels like Microsoft Word and even handles existing Word files“
Free office software has, of course, been around for years. Microsoft Office didn’t die. And it won’t be killed off by ad-filled web-based versions, either. Their limitations are great, functionality poor, and lets not even get started on security and data access issues.
While little Jimmy 2.0 may be happy doing his homework on the ‘net, corporations aren’t going to part with their data or retrain staff just to save on licensing.