I do both: I backup to my Synology NAS, which then in-turn uses Synology's Hyper-Backup (which is very nice, btw) to my Azure storage account - costs me about $15/mo to store a few terabytes with PITR recovery back to when I started doing this in 2018.
The thing is... I can't help but worry someone's going to compromise my NAS and DBAN the drives and then extract the Azure storage key and use that to delete all my backup blobs...
(Yes, the backup client needs read, write, and delete permissions, unfortunately - and Azure doesn't offer a Blockchain-style "append-only" mode for blob storage, unfortunately - still, better than nothing).
UPDATE: Apparently Azure Blob Storage does support strict append-only blobs that cannot be mutated or deleted, only appended - so I wonder if Hyper-Backup can use that…