I would respectfully disagree, if that's okay. The only time I have lost any data of (significant) value at home was due to not having a back up elsewhere. When both main copy and back up hard drive were in the same building. Of course I'm really pushing the odds here but it happened to me, losing tens of thousands of pounds worth of images.
IMO iCloud is sufficient for backing up Apple specific data and personal photos - basically those items that it natively syncs = stuff you might be able to live without.
Other cloud solutions are available for more robust back-ups
