I understand the "not your hardware not your data" concern. would you feel better if the data was encrypted at rest and replicated to as many mirrors as you want, including a machine in your own house? (the home machine would mostly be a catastrophic backup, while the cloud machines are for perfect uptime/easy access)
Discussion
Using it as an off-site backup would be a pretty huge value add.
Those I see why you'd have it the other way around (using the cloud as your primary and your own hardware as a backup state ready to deploy in case the cloud drops out of the picture for whatever reason).