At this scale, there's no one perfect answer. You need to consider your usage patterns, business needs, etc. Is the data cold storage, that is rarely accessed?

At this scale, there's no one perfect answer. You need to consider your usage patterns, business needs, etc. Is the data cold storage, that is rarely accessed? Is it OK to risk losing a percentage of it? Can you identify that percentage? If it's actively utilized, is it all used, or just a subset? Which subset? How much data is added every day? How much is deleted? What are the I/O patterns? Etc. I have direct experience moving big cloud datasets to on-site storage (in my case, RAID arrays), but it was a situation where the data had a long-tail usage pattern, and it didn't really matter if some was lost. YMMV.