The idea is simple. When you start Studio it should a user if she/he wants to work on local project files or on his iCloud-ish folder with projects.
After that there should be no difference in the Editor view. The difference, however, would be when the user moves to another machine, gets logged in to Studio and selects the same cloud workspare. All of his Projects and files would be instantly visible.
This is not an alternative to GroupShare as it would not include features like file respository, project management etc. Just an addition to Studio to store projects on a virtual drive, which could be easily synced with Studio on different machines. It is currently possible with Dropbox, but it is not straightforward.