While you are taking a risk with any product you buy, it is important to also consider your control. for example, I bought a few cheap acer displays, after the warranty, all of them failed (bought 3). But for about $13, I repaired all of them by replacing the crappy capxon branded capacitors, with higher quality capacitors.
A product that does not rely on a company keeping a random server running, will be able to run almost indefinitely as long as you are willing to repair it when needed.
If you wanted today, you could hook up a colecovision from 1982, and it will still work today (not sure who would want to), but what if it relied on Coleco Industries to keep a server running in order for you to use the product?
This control circuit for an extremely old (must be around 50 years old) alarm system, still works (it fairly recently decided to remove the box, but a quick test caused the alarm to ring).
https://www.flickr.com/photos/razor512/14853209863/sizes/o/
Once you make the product completely dependent on a remote server, then the product will only ever last as long as that server, regardless of how well you maintain the client side hardware. Like in my previous example, for those who own a dropcam, what will become of your camera when the company goes out of business, or decides to no longer run those cloud services? What happens if you got it to record footage for security purposes, and the company increases their already insane $10 per month per camera, to something like $500 per month per camera?
Overall for cloud reliance, you are giving up 100% of all future reliability of the product, as it can be effectively bricked on the whim of a corporate executive.
Cloud simply does not allow for consistency or reliability. Your user experience is completely out of your control, as they can change, remove, charge for what was previously free, change prices for paid functions, or decide to no longer support older models.