We use RAID NAS drives.
I can be hacked yes, but as you point out, unlike a cloud storage computer, I don’t have a target painted on my computer. Also cloud storage is designed to have outside systems access it, my set up is designed not to allow outside systems to access it. Which doesn’t make it invulnerable to a determined attack, of course, but does make it less likely to receive such an attack. And only the currently active backup drive is connected at any one time.
I do all the finances and software for the business I’m a partner in. If that lot was held to ransom we’d go out of business. So I’m happy to be paranoid!