Is this the end of the Office monopoly?

I have started using http://www.thinkfree.com/ online office and I am thrilled.
This online office worth a serious check of anybody who is using Microsoft office . As a heavy user of MS Office I must admit that this product is really close the original but much cheaper.
True, all the new feature of Office 2007 aren't there, however, I am not that sure that the simple user really needs them. Sophisticated users might still want to use the traditional Office package as I still do.
The benefits of the product or more precisely, the service are many:

1. It is free
2. All web based
3. It is self explanatory - whoever worked with office will know immediately what to do
4. You get 1GB storage - for free
5. It has all you need from word processor, spreadsheet and presentation engine. It is much more powerful than Google's competitive package.
6. If you insist of having an Offline tool for flights you can buy for $50.

The only question is, for how long will it last? How long will it take to Microsoft to buy this company...

Meanwhile, enjoy !