No one can ignore Microsoft, but at this point they're just talking while a lot of other folks are walking. The web-based app space isn't heating up — it's already been cooking for a while now.
So it'll certainly be interesting to see how the gorilla of the desktop will attempt to compete on the web when its monopoly power is drastically reduced. The web has leveled the playing field like no other platform ever has. Microsoft can't rely on the tricks of old and there's no single air supply to cut off.
Also worth noting is that all the plays seems to be outposts for the Windows and Office duopoly. The announcements were short on hints at Microsoft doing anything new or anything different that might potentially hurt the cash cows. Is this more about playing not to lose than about playing to win?