Absolutely. As a species we don't seem to be very good at risk management/minimisation. The original theory of the Internet (if a bit is bust it routes round it) seems to have gone out of the window a long time ago. Same with many other areas - power generation? Much more resilient to have lots of small sources rather than one mega one. Potentially the same with transport - one key failure in a centralised traffic light system and a city grinds to a halt.
By all means put things in a 'Cloud', but a Cloud made up of multiple chunks that do not depend on each other. It shouldn't be possible for Cloudflare, or GMail, or GSuite or whatever to 'break' globally.