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Yeah ok well when you get ransomware'd you're going to wish you had Cloud backups.
Ask me how I know
There are also many organizations that wish they has some local backups after their cloud service providers lost all their data. Lesson to learn: Backup properly with offline storage. Tape in a safe, maybe even off-site, etc.
So, what you're saying is that, regardless of where you run your workloads, you should still follow the 3-2-1 rule?
3 - copies of the data. 2 - different media. 1 - offsite.
It's funny how cloud doesn't really change the basics of good systems administration.
Almost like a responsible modern day approach is multifaceted