Should be obvious...
When looking at "cloud" there's little you can do when it comes down (take Google (though not directly comparable), take the recent Amazon or Microsoft outages...). Perhaps apart from looking up their own error reports (if they actually share anything) or social media.
And no matter how hard you scream, threaten (or actually start) with throwing chairs or start crying over vaporated clouds; it won't make the outage magically go away.
Yet when that local server comes down and you have a qualified IT team or department then at least you can start yelling at those guys ;-) It might even help motivate them to fix the issue a bit quicker (depending on the issue(s) at hand obviously).
Keep things in-house and you gain more control. Go into the cloud all you want, but don't be surprised if you find lots of fog along the way.