Yup you're old
Years ago my company used to licence a copy, at great expense, of the Post Office PAF file, with regular updates arriving on tape which had to be laboriously loaded into our in house system.
Now - we use PostCodeAnywhere of course. Yes, we depend on a third party for this, but so what? We depend on many third party companies to do business, not least our utilities suppliers, accountants, logistics companies, Internet service providers and so on ad infinitum.
With IT, it's not outsourcing that's the issue, it's how you arrange your outsourced services and who you outsource them to that matters.
In this interconnected world, where as many or more of our users are remote as are office based, the geographical location of the systems is neither here nor there. Even firewall's, DMZs, and intrusion detection systems are increasingly irrelevant in a world where the distinction between your internal and public networks is ever more blurred. You need to defend each system individually, not the perimeter.
I'll stick my neck out even further. Anyone who still believes there's an advantage to running an in house data centre where they can touch the hardware and see the blinking lights is hopelessly out of date. If you know what you're doing, you can deliver far more reliable, far better performing, far more functional systems by outsourcing (cloud or otherwise) than you can in house.
PS I'm old too.