Being one of those people who included the 'cloud' in my drawings, I've always been suspicious of the 'real' cloud. I've always used the cloud as shorthand for something between 'magic' and 'here be dragons'. That is, the cloud represents a breakdown in control or knowledge. I've always felt it my role to make the clouds smaller and smaller until everything was understood and under control.
That said, I can see value in pushing the data and even the applications to auto-scaling, available-from-anywhere systems. I can see value in packaging everything it takes to do so in a way that abstracts away the gritty details. I can see value in letting people smarter and more skilled than I am configure the hardware, software, delivery mechanisms, recovery mechanisms, etc.
I look at some of this the way I look at driverless cars. As much as I like driving, if letting the computer take over reduces the risk, I'll let the computer drive. If an actual risk analysis shows that risk is reduced by 'going cloud', then I'll recommend that.