From Twitter's perspective, you're absolutely right. From a user's perspective, the bulk reliance on singular companies to manage our data is an issue that I'm afraid is going to become dangerous.
Look at the 2.5 hour Facebook outage from a couple of days ago. If Facebook were to be hit by an airplane or asteroid, a seriously significant portion of 500,000,000 peoples' lives would be lost, if only just in photos. If my house were to have the same thing happen, 150 people would experience a somewhat lesser loss.
I have thousands of emails between close friends in Gmail that I would like to preserve, but no convenient system exists for archiving them away from Google. The point of archive is to have redundant systems on which to rely. Archiving my Gmail with Google is therefore not an archive since it's still only one system.
It's like leaving a tasty pork chop in the 'fridge at work and expecting the cleaning lady to not toss it over the weekend. I really think archive should be the responsibility of the user.