Those security issues are actually a good thing, showing people what kind of risks are involved with all this cloud crap.
Unfortunately, I don't think it has this effect.
Most people have gotten used to security breaches, software bugs, invasion of privacy, and so on. This has become their new "normal".
As to people not having "any critical or valuable information to protect", yeah for the average joe, maybe. But even that is deluded. Probably a large fraction of those average joes store contracts, bills, possibly medical information, possibly information that they do know even own (like stuff from other people) etc, on those cloud services. You tell me if this is not critical information.
This cloud stuff goes hand in hand with subscription-based everything. It makes people forever dependent, and kills the already limited autonomy they had.