Ok, so it is not the full version of Photoshop - it is Photoshop Express, Adobe's contribution to the world of online photos. It comes with 2GB of online storage - which is pretty sweet. Add in a bunch of tools to play with and it looks like fun.
Something neat is that it will link with other photo sites like Picasa, Photobucket, and Facebook. It was quite quick and simple to pull in my Picasa albums.
Lets wait and see how it compares to the other sites. Will it gain the huge following of Flickr? How about the simplicity and accessibility of Picasa? Time will tell.