It would be fine if keys were held locally or in a loyal-to-end-user way, and data stored dumbly in the cloud. This would break business models fundamentally a

It would be fine if keys were held locally or in a loyal-to-end-user way, and data stored dumbly in the cloud. This would break business models fundamentally and also require a lot of technical rearchitecting, though. (Ideally you'd be able to delegate/release a short-lived key to a subset of data to do certain operations remotely, on to-some-extent-loyal remote computing resources, but I think within 5 years people will realize that long-term/eternal data at rest under anyone else's control makes you a victim-in-waiting.