20 year old load-bearing m4 tends to be less of a technical debt than 20 year old load-bearing Java - because it keeps working and doesn’t need constant maintenance.
Security: with cloud nobody cares, things leak all the time w/o much consequences
Reliability: unless you’re multi-bilion customer nobody cares, Google can simply ban your account and they won’t assign a human intern to perhaps reconsider dropping all your data because the effort would never pay
With local storage there is at least one person who cares about those problems. With cloud there is none.