This is why I selfhost as much as I can - but there are certain things I'd rather not. Like E-Mail - I use ProtonMail fo rthat. Or, off-site backups - a means to recover some of the most important things, should the worst case happen. So eventhough I selfhost nearly everything from files, to messaging, to calendar and whatnot, there is a use for external services as either a backup or secondary backbone.
And if I have to use any of that, I might as well chose very clearly what I would want to use. I'd never use OneDrive, although my data is encrypted, for instance (using rclone's "crypt" layer for file contents, filenames and foldernames - all the way).
So if there ever happens to be a service X that I can not selfhost for one reason or another, and I see a chinese competitor in the space, I am likely to pivot there rather than an american thing, as long as I get a means to secure it. Should it then leak anyway, it's more likely to stay in china than would it have leaked from a western company.
That said, this is just /my/ mindset. o.o