Anything you don't own can go black any time regardless of how many 9s they write in the contract. You don't own it, you have a revokeable right of access.
False dichotomy. The only reason your own can go black is some hw/sw failure, a risk which anyone can minimise easily by having copies. Your access of a remote corporate server can go away for 1000 reasons, making you more vulnerable.
Of course it's more complex, like how often that data changes and costs of backups vs subscription price. But I find any argument for cloud products etching towards a "you'll own nothing and be happy" economy.
It isn't a dichotomy! You are trying to argue that cloud storage is a bad choice on pure ideological grounds, but you haven't justified it with any data. It is a matter of fact that you are more likely to misconfigure, lose, destroy or otherwise screw up your self-hosted solution than Amazon are to withdraw service. If your reason is just "I hate Amazon" or "I don't like services that are not under my control" then say that.