Backing up the cloud instead of to the crowd?

The word crowd should be cloud. This is not about Mustangs running over people.

It used to be that you would back up your physical local drive to a floppy disk or portable drive and take it off-site to protect your data. I used to do that with my work computer on a weekly basis. I used a thumb drive that would hold everything that was critical to running my business. I kept 5 dated copies on the thumb drive. Pictures and such were on portable hard drives and SmugMug so there were already redundant copies of them.

Then floppy drives became obsolete and they were so slow. But could could set your system up to back up everything on cloud storage. It was automatic, it was off-site, and secure. 

But times have changed a good bit. Now I find myself using Google Drive as my primary drive for a lot of things. I currently have about 20GB of data on there ranging from building plans to business files to information on my RV. I can scan hard copies in and then run them through the shredder or print to PDF and never have to print a hard copy to start with. The only copy of every purchase order and estimate I've generated in the past several years is on there not to mention contracts and other critical information I need to keep up with. It's convenient and organized. I can access it on multiple devices from just about anywhere on the planet. And, it's secure...right?

Then I started thinking, what if the cloud storage fails? Is that even possible? Should I be backing up my data that is on the cloud drive to a physical local drive that I alone control or am I just being paranoid? 

Do y'all back up your cloud drives? Do you even use cloud drives to start with? 

Inquiring minds want to know.

I tend not to trust businesses to take security seriously.  I mean, when's the last time you got notice that your SSN, name, address, etc. had been obtained by hackers?  Happens all the time.  Nothing they can do, or nothing they are willing to do, on your behalf.

If it's mission critical, I wouldn't rely solely on the cloud.

https://www.theregister.com/2022/10/24/datacenter_solar_storm_emp/

The other concern I have with cloud backup is what happens if you want to move to a different service, or discontinue (also why I am leery of online photo storage).  I guess this is not an issue if you are only backing up and not storing what is not on your drive.

Cost wise, hard drives, even solid state ones are rather cheap.  I think you can get an 18 TB drive (that's freakin HUGE) for a few hundred!  You could back up on to drives and scatter them around (one at a remote location is a good idea) is likely the most secure way.  Just clicking a button for a cloud backup is clearly more convenient / easier.  (Although, I believe there are external drives that can be setup like this, with a physical button)

A quick look shows 2TB solid state external drives at around $150 and a 20(!!)TB spinning external drive for just over $300.  (these are sales listed on SlickDeals)

Unless you have a crap load of videos or gigantic CAD / Photoshop files, 2 TB is more than way too much for most!