bullsnit.
This article is a little sketchy. No, the “cloud” doesn’t mean your data is stored on someone else’s computer. It means your data is broken up into thousands, or even millions, of “shards,” and each one of those shards is heavily encrypted and stored on someone else’s computer. The other options are actually storing your data on someone else’s computer in a server farm, or, still less safe for all but the biggest players, trying to store the data on your own server.