What I find interesting is that its even a product. I know that sounds weird but bear with me for a moment.
Mail (the service) has changed hardly at all for a decade. You send an email, may be you attach a few files, you get the email. The biggest change was that you could send text that had been formatted with HTML so that it looked 'better' (not everyone agrees with this) than plain, monospaced text.
Its a bitch to monetize in any way except direct payment, and yet the Eudora's and other mail clients of the world have faded from memory.
Given the collective memory, is it time for mail as a service? You know you pay $12/year or something and it just works. Nobody futzes with the UI, the amount of space you get/use is entirely a function of what you're willing to pay.
The question I'm asking is this, "Have we collectively come to understand the intrinsic value of email?" If so is there a utility service business plan that makes sense now? I could certainly see how you might structure such a business.