For my personal use case, that involves photos and documents, all things i cannot easily recreate (photos less so). Those are what matters to me, and storing them in the cloud means i not only get redundancy in a single data center, but also geographical redundancy as many cloud providers will use erasure coding to make your data available across multiple data centers.
Everything else will be just fine on a single drive, even a USB drive, as everything that originated on the internet can most likely be found there again. This is especially true for media (purchased, or naval aquisition). Media is probably the most replicated data on the planet, possibly only behind the bible and IKEA catalog.
So, back to the important data, i can easily fit an entire family of 4 into a single 2TB data plan. That costs me somewhere around €85 - €100 per year, for 4 people, and it works no matter what i do. I no longer need to drag a laptop with me on vacation, and i can basically just say "fuck it" and go on vacation for 2 weeks.