The cloud is not serverless, in search of a better definition

Today, the cloud seems to be a catch-all term for all shared compute resources that can be utilized without any third-party intervention. Requesting resources in real-time so that it is acutely available to the end user. For many this is still an abstract concept, you might wonder if this term fits the concept. But how do you decide what would be a better name? Let's make an attempt by assessing the origin of the term. Then subsequently answering the question: is there a better term than cloud?