In many ways, computing is repeating the history of electricity: In the early days, before the electric grid, many factories had to build their own electric power plants for their immediate needs.
Today, we simply consume electricity from our power outlets. At the end of each billing period, we simply receive a bill. (I know it's a bit more complicated with factories and their huge energy needs but the principle is the same: centralized power plants for everyone).
Building your own servers will be like... building your own lab power supply: A fun and rewarding learning experience, but neither cost-effective nor necessary.
Only if you leave content out of the equation would "building your own generator vs build your own server" be alike.
Intellectual Property ownership of the content stored in the cloud is a question. When you upload stuff to your cloud, they can control what content you can store there already. So, do you own the content or don't you? How sure are you that the cloud operator will not inspect or use the content you stored there?
Apple already scanned photo you store in iCould. What if you have baby/kid pictures of your kid that may expose more than you realize? Apple reports this to the legal authorities, the authorities monitor your traffic to the ISP... What if the cloud provider's scan of your stuff as illegal content was because of the AI scanner used is too much "A" but not enough "I"?
Besides control, there is the content ownership problem: How would you like it if
with authorization from the cloud company alone, your video of your kid accepting a swim competition award is used for advertisement by the manufacturer of your kid's swim suit? Well, you did store that video on the cloud, and
edited it while it was on the cloud, and clicked "yes" when you were shown the on-line "end user agreement" update...
Below quoted from an IT consulting/services firm article: "Who Actually Owns Your Data?" (Text bold added by me and not in original quoted text)
"Data created before uploading into the cloud has clear ownership and intellectual property
claims by the creator or someone working on a paid basis for a business or organization.
Data that has been created within the cloud could come with some strings attached. Making sure that you properly claim and protect your data and intellectual property is becoming more difficult as the legal processes have not really caught up with the pace of technology."
(RL notes: claiming the right is one thing, you still have to win the claim and to win that, you need lawyers and the money to pay for the lawyers.)
"What really happens to all those backups to the cloud? If you are using a service to back up your data what kind of protections do you have? How is that data being protected? What about transferability [SIC] from one location to another or one vendor to another? Do my intellectual rights and data ownership claims follow the data? These are all very good questions and they all reside in the
grey area of the legal system."
"Congress has taken steps to protect the intellectual rights and data ownership of data stored in the cloud with the Stored Communications Act or SCA. With any legislation, there are several parts to this,
in one section it specifically states that when data resides on a cloud provider’s infrastructure, the user owner rights cannot be guaranteed. " (this bold here was done by author)
Regardless of what is in the SCA, when you clicked that "yes" on that "user's agreement update", you might have agreed to give some or all your rights to data-miners already.
So, not like electricity grid vs private generators at all when you incorporate ownership rights in the picture.
Link to actual quoted article:
https://winningtech.com/who-actually-owns-your-data/