You are right, and it did cross my mind but just didn't end up mentioning it. If you have some very important things, it's likely good to have an offsite backup, and there's where the cloud might come in, but it might be good to have a physical offsite backup as well, so perhaps save your stuff out to a BD-R, and then make another copy of it (verifying both), and take one somewhere else, in case, say, your home burns down or robbed, etc.
I have two homes, and one of my backups is in a file cabinet at that home. I also used to keep backups (both external hard drive and CDs) in my bank safety deposit box when I had it. The bank was a half-hour's drive from my home.
It's highly unlikely that both homes would burn down at the same time.