Sure, scale of cloud systems has some interesting properties, that can be sometimes beneficial. At the same time you are at the mercy of whoever runs the cloud

Sure, scale of cloud systems has some interesting properties, that can be sometimes beneficial. At the same time you are at the mercy of whoever runs the cloud, they can spy on your data or even manipulate your workloads, they can renegotiate the terms of use at any time - including price hikes or booting your from their cloud at any time.