When something goes wrong with this, you have a a fairly small chance that you can reach a human to override, but it will be an overworked underpaid contractor somewhere and your chances will be poor.
If you talk long term (decades), it is quite possible that Google falls out of favor and becomes legacy, like Myspace, with not making that much money anymore. We all know what happened to the Myspace data, they just deleted most of it at some point.
Essentially it's a lottery with your data.
Now a badly maintained hard disk is a data lottery too, but it's not clear to me the chances to retain are that much worse than Google's.