I don't get this. Suppose I have 1TB of data that I want to back up. That's $5/mo with Backblaze. I can get an external 1TB drive for ~$60. Some even have 3-5 year warranties. $60 buys me one year with Backblaze. There's a good chance the hard drive will last much longer.
An external drive also gives me the benefit of higher data transfer rates. I could even splurge and for another $50-60 buy a small fireproof safe to store it in. Then I'm pushing two years with Backblaze. The external drive approach also has the side benefit of not having to trust a third party (yeah, I know, encryption). It seems like a much better deal to me. Does this mean that I am an unreasonable person?