Tech companies and their executives have, broadly, moved to align themselves with investors and adopted a posture of, often, disdain or outright hostility towards their users and employees. If tech companies don't value you, why provide value to them? If they back political positions hostile to your interests, why not return that hostility?
While I use those and they are great, we use dorpbox for video and have the 30tb plan which is needed. My friend has no local setup cuz he’s afraid of losing it all as its his job. He does video editing on a Mac and likes Dropbox features (regardless that they are stealing all his video and using it to train bots to take his job in the future, but he doesnt care )
If his data only exists in one place, it’s at high risk of being lost anyway. The cloud is not a backup. Plenty of stories of people losing data in the cloud because of bugs/mistakes, companies closing down, hardware failure, etc.