You're paying for storage space on their servers when you can easily have reasonable amounts of portable storage much cheaper by just buying a dang thumbdrive (or huge amounts of non-portable storage vastly cheaper with a hard disk.) It's just stupid, no matter how much you try to rationalize it.
But you don;t have to carry that thumbdrive everywhere and what if you lose it (I lost a 32GB one)
The only issue is what happens if they decide they're closing the data centre down like Ubuntu did, or worse still, you data gets hacked/accessed by people you don't want to access.