I am strongly against Cloud services.
The reason why I have a large library of everything (music, photos, movies) is that I don't want to be dependant on anyone or anything. There are just too many things that might go wrong. I often hear: "Why do you have your HD movies in MP4????" and I tell them that Netflix removed shows and AppleTV removed movies... I still have them here, on my disk. Ready at my fingertips.
Imagine, someone files a complaint against your account due to you sharing these tracks.
Gone.Or the service simply terminates because they can.
Gone.Changes in the EULA.
Unsecure.Changes in the world (e.g. an embargo. See Russia).
Unavailable.The ISPs might have a problem.
Unavailable.Connections might be busy.
Unreliable.Connections might be slow (see the "KPM CDs thread"...).
Annoying.The servers might have a problem.
Unavailable.Servers in the U.S.A. and some random guy (e.g. Trump) changes laws/rules for forgein users like me from Germany -
Gone/Unreliable.Your bank payment bounces for your storage.
Gone/Unavailable.Who to talk to / who is responsible in case of trouble?
Unsecure.A local hard drive - mine is stored at my parent's house - connected via SATA is fast, reliable, nobody can take the stuff away. Fair enough, you have to pick it up, but you don't back up your stuff daily anyways. Well, at least I guess so.
If you use it to share on LMT, it's fantastic. I see that. I am also massively profitting from it. But as a backup solution, the only one, nope, never. I know the chances are low, but they are there. I am paying with cash for example. "Who does that in 2022?". Well, Wirecard terminals stopped working, then many POS terminals had an old certificate here in Germany, causing lots of trouble. Was an eye-opener.
EDIT: My cousin uses a RAID10 system for his backups. But I do not want to have a large case with several HDs/SSDs standing about. My 5 TByte WD does it