It would be nice if we ever got any good privacy legislation for it to include a requirement that a company keep money in a trust to retain services to erase servers with private information of public citizens. That, along with some specific rules about what private information can be collected or retained, might greatly change the economics of the "online free service supported by massive data mining of customers" space, which IMO would be a very good thing.
Says who? Do their ToS even address what happens if they're bankrupt?
It sounds like Apple can legally do whatever they want if they go bust: https://law.stackexchange.com/questions/30810/what-happens-i...
I expect the same is true of all the other major cloud providers.