Based on their feature list, it stores your email addresses and passwords encrypted on their servers, with your inky account password being the decryption key. The idea being that you can just login to your inky account on any computer and it loads all your email accounts.

Not at all a fan of this. I guess it sets them up to do a web service later on, but it's seems a little aggressive and unnecessary.

How is email not cloud-enabled?

They don't let me use my iPhone on the airplanes.