In time, I'm sure Cloud will be great
Right now we're still learning the ropes. I am convinced that Cloud is complicated, and DevOps, go fast and break things, and all the new thingamabobs they keep adding to remain "competitive" are certainly not helping in the stability and availability sides of the operation.
In twenty or so years, when the long-toothed DevOps guys have actually gained the wisdom of experience, I'm sure Cloud progress will be at a much more sedated pace, and availability will be up there with the famous Five Nines.
But first, we're going to have to live through the breakneck (and neck-breaking) pace of those young whippersnappers who have to invent everything Right Damn Now and get it into production yesterday.
I'll keep my data on my own network during that time, thank you very much.