> You are ignoring data location and software installs.
Caching works well for that.
> Having all your data always with you stored locally (on your phone) is simpler than syncing and more private than cloud.
Have a look at how GMail handles this. It has my emails cached locally on my devices so I can read them offline (and can also compose and hit-the-send-key when offfline), but GMail also does intelligent syncing behind the scenes. It just works.
> Example, you take a photos on your phone, dock it at your desk or laptop shell, and edit them comfortably on a big screen, with an app you bought and installed once. No internet connection is required.
My devices are online all the time anyway.
> A docking station could be more than just display and input devices. It could contain storage for backing up your data from the phone.
I'm already backing up to the Cloud automatically. And Google handles all the messy details, even if my house burns down.
> Or powerful CPU and GPU for extended compute power (you would still use OS and apps/games on your phone with computations being delegated to more powerful HW).
How is that different from the ChromeOS scenario, apart from that the syncing in your case doesn't involve the cloud?
> This could replicate many things cloud offers today (excluding collaboration). No need to deal with an online account for your personal stuff. IMO, it would probably be less mystical than cloud to most users.
No, it would be more annoying, because I couldn't just log in anywhere in the world, and get access to my data. And I would have to manually bring devices in contact to sync them.
You can build what you are suggesting. And some people (like you!) will like it. But customers by-and-large don't want it.