Cloud storage do not help you sharing that old photo album with friends spending the night in a cabin far from the closest cell phone coverage.

Also, cloud service typically move your older stuff to colder/slower storage which are painfully slow to retrieve whenever you decides to do it. I realized this when browsing some old pictures before closing a google account I had not been using for years except emptying the gmail inbox every few months.

I personally prefer having a local copy of my files and syncthing them to my NAS at home (which is itself backuped in a storage in the cloud).