In related news, Google also just dropped Drive pricing to exactly 50% that of Dropbox. Looks like they're trying to monetize all that huge capacity they have floating around.
In related news Amazon Cloud Drive still costs less per GB than Google Drive. AWS is also years ahead of GCE in terms of features and customer support and has been dropping prices regularly for years. GCE doesn't bring anything new that Rackspace, Azure, HP, Oracle etc. aren't already providing. GCE is likely to be as effective against AWS as Google+ was against Facebook...
It's about time AWS had some serious competition.