Photoshop Online?

Having recently formatted my hard drive, I was looking to edit a photo I had and realized I had not yet installed Photoshop. Feeling a bit lazy, I did not search for the install disc but instead looked to see if there was something I could use online. That is when I came across Pixlr. It of course does not have every feature Photoshop has, but for us mere mortals there are more than enough options to edit and create some pretty nice pictures.

The price for Photoshop has come down considerably over the past decade but it is still nearly $100. But is it a necessary purchase considering this website does most everything I need?