No, never, archive on the cloud. The cloud is for photographers who travel and need easy access to their data.
Digital storage degrades over time unless occasionally written to. Future improvements in digital technology can and will improve it's reliability. Optical storage will eventually degrade so the "100" year life is not true. Although, subject to mechanical damage, spinning rust is, as of now, the best option.
I began shooting 35mm film many, many years ago and loved it. Cost and convenience forced me into digital. Now I shoot with old low megapixel DSLR's and an old camcorder (I like the look).
On my computer the only thing on my digital boot drive is programs. All my work, and photos, reside on an external, laptop size, 2Tb spinning drive (work drive). Every night the digital drive and work drive are backed up on another external spinning drive. I keep 5 days of backups. The only thing missing in my set up is an off location storage option (a third spinning drive in a bank lock box).