In my scenario you if you have 3 computers with cloud storage, there are 4 copies of the file. One on each computer, local, and the extra copy in the cloud.

If you lose a computer and replace with a new one, there are now 5 copies, one of which is no longer tracking changes. (The dead computer)

In the event that a vendor would "revoke" a file, then I suppose there is the possibility of losing access to it (all copies would disappear) but in the case of purchased content, I suppose the right approach would be to say that a vendor simply is not legally allowed to revoke a file. Or - we make the system work in such a way that the original published copy is not required to maintain the shadow (local) copies for people who bought the right to have that content. Either way, the bias against cloud storage has more to do with the fact that this is new and unrefined, rather than it is new and sucks.

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Renderosity forum reply notifications are wonky. If I read a follow-up in a thread, but I don't myself reply, then notifications no longer happen AT ALL on that thread. So if I seem to be ignoring a question, that's why. (Updated September 23, 2019)