There's "cloud" and there's "guaranteed cloud with SLA and compensation if it fails", and the latter will be more expensive. The former is somewhat "best effort", and that's also why it's cheap.
Is it really cheap? For 3 years of cloud subscribtion, I can buy 2 Nas drives, drop them at the homes of two of my friends, sync my PC to NAS 1, and backup NAS 1 to NAS 2.
They are like 2 -click setup if you use Synology/Qnap/etc.
You can do that, the average person can't, so you should probably consider the time you'd spend on it, and how much it would cost the average person to hire someone to set it up for them. I don't think it'll be too cheap.
In the end, not dealing with that is most likely worth it for most people (including most people who have the necessary skill set).
I am not proposing rolling my oen linux box, I am talking about an off-the-shelf product where you plug it in and set a password. You follow a manual with pictures and there is real customer support.
This is very user friendly and good 50% of working-age population can do that.
