The paper discusses the evolution, commercialization, and decline of peer-to-peer (P2P) technology over the past 17 years, highlighting its transition from a disruptive model to fading interest in research. It examines the impact of cloud computing on P2P systems and contrasts the two architectures, noting the advantages of decentralized P2P over centralized cloud systems. Key applications of P2P, including file sharing and social networking, are analyzed, emphasizing the ongoing relevance of P2P in today's technological landscape.