Your point is silly. Be it amazons "cloud", or your own personal storage on your personal network, ALL mediums are subject to the same or similar privacy and security concerns. The important difference, however, is that cloud-based services bet the farm on insuring things like this never (or as rare as possible) occur, as that is a quick way to lose business.

Do I want to trust JOE with my assets, or a professional cloud-based storage solution which services 1000x more content than JOE? Hmmmmmmmmmmm.

Your line of thinking is why many companies go bankrupt, because they do not have ample vision to adapt to future business models. But hey, don't take my word on it.

All that is needed is one juicy nasty privacy or industrial espionage scandal to bring all this cloud crap to its knees. With all the private, sensitive, confidential and trade secrety stuff being masively stored on someone elses servers its just a matter of time.

Tick, tock, tick, tock, ....