You're talking about backups which you wouldn't normally need to keep for decades and will be powered on regularly anyway. If it's archival, such as family photos for your kids when they grow up, cloud storage can lose them if you die or go to prison or for whatever reason don't keep paying the bill.
If you go to prison, you can lose whatever media you have as well. I wouldn't rely on a single cloud storage provider, but mirror on multiple ones, and mirror on one or more local device as well, at least for the most important data. I wouldn't use physical media as primary backup copies today: long-term durability, and availability & support of matching peripherals are uncertain, and they don't make proper backups with redundancy easier, nor their verifiability.
For the kids, I'd rather make physical photo albums.