Apart from 50GB of free storage, Mega will offer Megaupload premium users a premium account on Mega as well. That should help bring back the paid users of the site. Unfortunately, Kim's lawyers have a different opinion. They don't seem to agree with Kim on bringing back premium accounts due to legal issues. Megaupload users still haven't been able to access their files ever since the website was shut down due to privacy and other legal violations. However Kim mentioned that he is working hard with his lawyers to enable old Megaupload users to access their files again.
Kim Dotcom also revealed that he'll be hosting the new website in New Zealand. He added that Mega would be, "powered by legality and protected by law." Kim also has plans to order servers in Germany to prevent further legal issues. Kim has promised that Mega would be a lightning fast service, much ahead of its time.
If successful, Mega could give current file sharing tools and services a run for their money. Dropbox and Microsoft's SkyDrive are two popular file sharing services amongst a number of others. The former offers only 2GB of free space while the latter offers 7GB of free space to its users. Considering that number - 50GB is pretty huge for Mega. Remember when Gmail launched with 1GB of free web space for e-mail users? This could be something on the same lines.
It'll be a major comeback, a personal one for Kim Dotcom and a big one for Megaupload. It is still too early to predict if the cloud file sharing service would be a major hit or not, we'll have an answer to that this weekend.