Ask HN: Backup Services & Data Retention

After reading about a service called RestBackup, which will continue to keep your data for a length of time, even if you cease to be customers, in case you 'need it later', I am wondering what peoples opinions are on such matters?

Do you think it's good for a backup service to continue to hold your data, even after the provision of the actual backup service has ceased?

Or do you think that once you're no longer a customer, the data should be wiped immediately, as it does not belong to the backup provider?

And are there any legal questions in play over data protection, industrial secrets, etcetera?