I totally agree. Cloud storage = loss of control and privacy. I have no use for it. You never know who is going to be sniffing around in your storage. Everyone should be worried about it. I know it sounds crazy but EVERYONE has something to hide or at least something they would rather not be looked at no matter who it is. People would be better off renting some rackspace and pushing their encrypted files over via FTP if thet want it in the cloud than to open themselves up to big brother RIAA/ MPAA looking over their shoulder. I personally would rather invest in a large NAS for storage. Yeah you lose the safety net of having your backups offsite but if your really worried about that then you could image the irreplaceables on BD or bare drives and lock them in a safety deposit box at the bank. For that to work would require you to make weekly/ monthly trips to the bank with fresh backups to swap out but you have to ask yourself how valuable/ private the data is and go from there.
I look at cloud storage as a big Venus flytrap. Some noob with some torrents or porn to hide/ store will use this and get busted. The guy could even have no illegal content but just some politically radical emails or word docs that the right person finds out about (i.e the Feds) and he will get hauled off. If it does happen publicly there will be a mass exodus out of the cloud by most IMO.
Cloud storage DO NOT WANT!