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It's a good concept for people that travel a lot and do not want to use a ton of data to stream content. But for an every day case I do not see it as useful. Unless someone uses their phone as their only device. But as said above. You could use a ton of different services to store your data
 
Looks like the Morphie case is one time fee vs Dropbox etc where you pay yearly for space.
 
Useful if you can't sacrifice your data plan as a cheaper alternative.

That's my thing, plus if you're planning to upgrade (or have an upgrade available) it's stupid to buy the case for a phone you're only going to keep for a year.
 
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