@dannybgoode you could equally say a physical backup is better than nothing but if you have photos that are important to you up really should back them up to the cloud too.
I think the chance of your house burning down or you losing/having your backup stolen is massively greater than Apple suddenly going offline forever or having all their data centres destroyed.
With regards to online security, the most important thing IMO is 2FA & a unique password. With these in place a hack should be extremely unlikely, given that most “hacks” are just crappy or duplicate passwords. If anyone doesn’t already do both of these things that is the #1 priority as far as I’m concerned.
Obviously 2 different backups is the best solution. Even just one will be fine 99% of the time, and I suspect the majority of people probably don’t have anything in place at all! I feel this has moved away from the OP’s question somewhat though 😂