Here is a rundown on the advantages and disadvantages of modern time sharing.
And, though no computer manufacturer has mentioned it, the step beyond sharing hardware is sharing software as well. That arrangement would transform hardware manufacturers and others into Application Service Providers (ASP) - companies that rent the use of hardware and software, as many time-sharing companies did. The ASP concept didn't catch on when the dot-com boom was at its peak, but advances in technology have overcome the limitations that kept ASPs from flourishing.