You do need to care when you move beyond a single server in a closet that runs your database, webserver and storage.
> No risk of leaking files due to misconfigured cloud services.
One misconfigured .htaccess file for example, could result in leaking files.
First, I hope nobody is using Apache anymore, second, you typically store files outside of web directory.
> One misconfigured .htaccess file for example, could result in leaking files.
I don't think you are making a compelling case here, since both scenarios result in an undesirable exposure. Unless your point is both cloud services and local file systems can be equally exploited?