This document discusses the evolution of Amazon EC2 and EBS cloud storage offerings over time from 2006 to 2012. It notes limitations of early offerings like local instance storage and EBS in terms of performance, durability, and suitability only for basic applications. More recent additions like Provisioned IOPS EBS improved performance but gaps remain compared to traditional enterprise storage. The document argues for a new generation of block storage for the cloud that provides independent scaling of performance and capacity, guaranteed quality of service, higher durability and availability, efficiency through data reduction, automation, and true cloud scale. It suggests all-flash storage designed for cloud providers could help by restoring balance between performance and capacity while reducing costs of storage infrastructure.