The scenario you describe involves no true "backups". It's probably better to say that you only have original copies, albeit resilient to failure of local hard

The scenario you describe involves no true "backups". It's probably better to say that you only have original copies, albeit resilient to failure of local hardware. Cloud services have data-loss events, due to both technical and business reasons. They're vulnerable to a variety of SPOFs out of your control or visibility. I've known so many people over the decades who trusted some online provider to reliably store the only copy of critical data, only to be burned. Even providers that you would have thought should be bulletproof. My rule of thumb, based on data loss studies, is to have three copies of any critical data. Any cloud provider should only be considered to be one copy.