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Google Drive and Docs are the components of an integrated service that provides a single place to store, access, create, edit, and share documents, files, and folders of all types.
Google Drive and Docs overview
Well, you are partially correct. Google Drive does "replace" Google Docs storage, but docs don't count against your 5GB storage limit. You can also store pretty much anything. It's much more like Dropbox than Docs ever was. Plus there are some cool add-on "apps" for Drive. I haven't had much time to play around with Drive yet either, but hey, for free, I will. The thing is, between Dropbox, SugarSync and Google Drive, I have plenty of cloud storage without dropping a dime on anything. It would have been unthinkable 10 years ago just how much storage is available to anyone, for free. Welcome to the future, I suppose.