DISCLAIMER: This blog is hosted on Blogger.com, a Google product.
I love storage clouds! The files are virtually accessible everywhere, and clouds make collaboration easy. Clouds have become cheaper and larger over the years (just like physical storage), which for filmmakers is a godsend.
Online storage is not without its flaws, however. Servers can be hacked and your videos and photos leaked, which may be detrimental to your business if your clients' projects depend on confidentiality or non-disclosure agreements. Your creative work may also be stolen. While unlikely, servers COULD be wiped clean by hackers. So, even if you are backing up to the cloud, it is important to still use physical storage (such as a hard drive or data disk) for your most important files. That way, you have both.
As a Mac user, I also use iCloud and Photos for many of my personal photos and videos. While Google Photos appears to be a direct competitor, I see the advantage of both systems and will plan to use both. Google Photos will be able to store unlimited videos in 1080p, which should make every indie filmmaker rejoice. If your files are bigger than that (such as 4k), then physical storage may still be the answer. However, I would recommend using Google Photos to make an archival copy of your final projects.