It's true that's generally not inside the home, and for most people it's unlikely to be video footage stored off-site.
I'm not sure how I feel about this, we have one nest cam that covers our entrance hallway, and it's off while we're in the house. I like being able to see what's happened while we're away (oh look, the cat came in...) but the privacy aspect is a little worrying. I guess I could get a generic camera and stream to my NAS, using "motion" to detect motion and then back up to the cloud... but that's non-trivial.