[djaychela]

>Is there any reason why music production in the cloud isn't the standard yet?

Latency springs to mind, firstly. It's hard enough getting a local DAW with audio interface working fast enough reliably with a high CPU load to ensure that a performer is happy with it. Adding in journey to/from the cloud, I'd think would make that part of it a non-starter.

Your quoted 10mS is doubling what you already have, and I'd wager there's more to it than that - particularly if you have an up and downstream connection to take into account. Put the buffer size up on your Ableton setup to 30mS, and see if that is playable.